CBTX Inc

NASDAQ:CBTX  
27.56
-0.78 (-2.75%)
Earnings Announcements, Mergers / Acquisitions

Allegiance Bancshares Inc And CBTX Inc To Combine To Create A Premier Texas Banking Franchise

Published: 11/08/2021 14:32 GMT
CBTX Inc (CBTX) - Press Release - Allegiance Bancshares, Inc. and Cbtx, Inc. to Combine to Create a Premier Texas Banking Franchise.
Allegiance Bancshares Inc - Allegiance Shareholders Will Receive 1.4184 Shares of Cbtx for Each Share of Allegiance Common Stock.
Allegiance Bancshares Inc - Co's Shareholders Will Own About 54% and Cbtx Shareholders Will Own About 46% of Combined Company.
Allegiance Bancshares Inc - Merger is Expected to Generate an Estimated $35.5 Million of Run-rate Cost Synergies by 2023.
Allegiance Bancshares Inc - Merger is Targeted to Deliver 40% and 17% Accretion to Cbtx's and Allegiance's Earnings per Share in 2023, Respectively.
Allegiance Bancshares Inc - Bob Franklin, Chairman, Chief Executive Officer and President of Cbtx, Will Be Chief Executive Officer of Combined Company.
Allegiance Bancshares Inc - Steve Retzloff, Chief Executive Officer of Allegiance, Will Be Executive Chairman of Combined Company.
Allegiance Bancshares Inc - Ray Vitulli, President of Allegiance, Will Be Chief Executive Officer of Combined Bank.
Allegiance Bancshares Inc - Paul Egge, Chief Financial Officer of Allegiance, Will Be Chief Financial Officer of Combined Company.
Revenue is expected to be $34.37 Million
Adjusted EPS is expected to be $0.33

Next Quarter Revenue Guidance is expected to be $33.6 Million
Next Quarter EPS Guidance is expected to be $0.31

More details on our Analysts Page.