CBTX - Allegiance Bancshares CBTX merger receives Federal Deposit Insurance Corporation approval

Allegiance Bancshares (ABTX) and CBTX (CBTX) said the Federal Deposit Insurance Corporation has approved the merger of the 2 financial companies. The 2 companies agreed to combine in an all-stock merger to create a combined company with an equity market cap of ~$1.5B in 2021. The shareholders of both companies had recently approved the merger, but it remains subject to the receipt of regulatory approvals from the Board of Governors of the Federal Reserve System and the Texas Department of Banking. The merger is expected to close in Q3.

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Allegiance Bancshares, CBTX merger receives Federal Deposit Insurance Corporation approval