Veritex Acquires Bank of Las Colinas

Thursday, 27 October 2011 16:29

Veritex Community Bank Acquires Bank of Las Colinas
Deal Adds $50MM in Assets

Veritex Community Bank, a subsidiary of Veritex Holdings, Inc., completed its purchase of Bank of Las Colinas.

The announcement follows the acquisition of Fidelity Bank in March 2011 and marks the third bank acquisition for Veritex within approximately one year of its formation.

Veritex Community Bank—with roughly $425 million in assets—is led by founder and CEO C. Malcolm Holland, a 30-year industry veteran.

The integration of the Bank of Las Colinas branch located at 300 East John Carpenter Freeway in Irving brings the total number of Veritex branches to ten, with existing branches in Dallas, Garland, Lakewood, Park Cities and Plano.

“This is a very strategic acquisition in terms of deposit franchise, branch location and excellent management. Bank of Las Colinas fits perfectly in our long-term plan to be a $1 billion banking franchise in North Texas,” said Holland.

Veritex Bank provides depository and credit services to retail and small- to mid-size businesses, which have been largely neglected by national banks. The name “Veritex” is derived from the Latin word “veritas,” meaning truth, and “Texas.”