Independent Bank Group, Inc. Completes Acquisition of Integrity Bancshares, Inc.
02 June 2018 - 12:30AM
Independent Bank Group, Inc. (NASDAQ:IBTX), the holding company for
Independent Bank, today announced the completion of the acquisition
of Integrity Bancshares, Inc.
Integrity Bancshares conducts its banking
operations through its wholly owned subsidiary, Integrity Bank,
Houston, Texas, which has four full service banking locations in
the Houston metropolitan area. As of March 31, 2018, Integrity
Bancshares reported total assets of $761 million, total loans of
$674 million, total deposits of $596 million, and total equity
capital of $91 million.
Under the terms of the definitive agreement,
Independent Bank Group issued 2,072,131 shares of Independent Bank
Group common stock and paid approximately $30 million in cash to
the shareholders of Integrity Bancshares as consideration for all
of the outstanding securities of Integrity Bancshares. In
addition, Independent Bank Group paid approximately $900 thousand
in cash to certain option holders to cash out unexercised options
to purchase shares of Integrity Bancshares common stock.
About Independent Bank
Group
Independent Bank Group, through its wholly owned
subsidiary, Independent Bank, provides a wide range of
relationship-driven commercial banking products and services
tailored to meet the needs of businesses, professionals and
individuals. Independent Bank Group operates in four market regions
located in the Dallas/Ft. Worth, Austin, and Houston, Texas and the
Colorado Front Range areas.
Contacts:
Analysts/Investors: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Michelle Hickox |
|
|
|
Mark Haynie |
|
|
|
|
|
Executive Vice
President and Chief Financial Officer |
|
|
|
Executive Vice
President and General Counsel |
|
|
|
|
|
(972) 562-9004 |
|
|
|
(972) 562-9004 |
|
|
|
|
|
mhickox@ibtx.com |
|
|
|
mhaynie@ibtx.com |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Media: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Peggy Smolen |
|
|
|
|
|
|
|
|
|
Vice President
Marketing & Communications |
|
|
|
|
|
|
|
|
|
(972) 562-9004 |
|
|
|
|
|
|
|
|
|
psmolen@ibtx.com |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Independent Bank (NASDAQ:IBTX)
Historical Stock Chart
From Sep 2024 to Oct 2024
Independent Bank (NASDAQ:IBTX)
Historical Stock Chart
From Oct 2023 to Oct 2024