DALLAS, July 07, 2017 (GLOBE NEWSWIRE) -- Veritex Holdings, Inc. (NASDAQ:VBTX), the parent holding company of Veritex Community Bank, today announced that the Board of Governors of the Federal Reserve System approved the company’s regulatory application to merge Sovereign Bancshares, Inc.
Veritex’s Chairman and Chief Executive Officer Malcolm Holland stated, “I’m pleased to announce that we received the final regulatory approval required to complete our merger with Sovereign Bancshares. Thanks to the hard work of both Sovereign and Veritex teams, we are working to close this acquisition on or around August 1, 2017. I’m looking forward to welcoming Sovereign’s clients, shareholders, and employees as they join the Veritex family.”
About Veritex Holdings, Inc.
Headquartered in Dallas, Texas, Veritex is a bank holding company that conducts banking activities through its wholly-owned subsidiary, Veritex Community Bank, with locations throughout the Dallas metropolitan area. Veritex Community Bank is a Texas state chartered bank regulated by the Texas Department of Banking and the Board of Governors of the Federal Reserve System. For more information, visit www.veritexbank.com.
About Sovereign Bancshares, Inc.
Founded in 2004, Sovereign is a bank holding company that provides financial services including a wide range of depository services, commercial and industrial lending, SBA loans, specialized lending for the energy industry, private banking, real estate lending and treasury management services through its wholly-owned subsidiary Sovereign Bank. Sovereign Bank currently serves its customers through seven branch locations in the Dallas - Fort Worth Metroplex, two Austin branches and one Houston location.