Allegiance Bancshares, Inc. an – GuruFocus.com

HOUSTON, June 16, 2022 (GLOBE NEWSWIRE) — Allegiance Bancshares, Inc. (ABTX) (“Allegiance”), the holding company of Allegiance Bank, and CBTX, Inc. (CBTX) (“CBTX”), the holding company of CommunityBank of Texas, NA, today jointly announced that it has received regulatory approval from the Federal Deposit Insurance Corporation (“FDIC”), which follows recent approval by shareholders of both companies. The merger remains subject to obtaining regulatory approvals from the Federal Reserve Board of Governors and the Texas Department of Banking. We expect to close the merger in the third quarter following receipt of these approvals and satisfaction of other customary closing conditions.

About Allegiance Bancshares, Inc.

As of March 31, 2022, Allegiance was a Houston, Texas-based bank holding company with assets of $7.15 billion. Through its wholly owned subsidiary, Allegiance Bank, Allegiance provides a diverse range of commercial banking services primarily to small and medium businesses and individuals in the Houston area. As of March 31, 2022, Allegiance Bank operated 27 full-service banking locations in the Houston area, which we define as the Houston-The Woodlands-Sugar Land and Beaumont-Port Arthur Metropolitan Statistical Areas. Visit www.allegiancebank.com for more information.

About CBTX, Inc.

As of March 31, 2022, CBTX, Inc. was a $4.45 billion asset banking holding company for CommunityBank of Texas, NA, a community bank, providing commercial banking solutions to small and medium businesses and professionals with 34 banking locations across the Houston, Dallas, Beaumont and surrounding communities in Texas. Visit www.communitybankoftx.com for more information.

Forward-looking statements

Certain statements contained in this press release that are not historical in nature are intended to be, and are hereby identified as, “forward-looking statements” for purposes of the safe harbor provided by Section 27A of the Securities of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.

These statements include, but are not limited to, statements about the benefits of the proposed merger of CBTX and Allegiance, including future financial performance and results of operations, statements relating to the expected timing of completion of the merger, the combined company’s plans, business and growth strategies, objectives, expectations and intentions, and other statements that are not historical facts, including projections of macroeconomic and industry trends, which are inherently unreliable due to multiple factors that affect economic trends, and such variations may be material. Forward-looking statements may be identified by words such as “may”, “will”, “should”, “could”, “anticipate”, “plan”, “intend”, “project”, “anticipate”. , “expects,” “believes,” “estimates,” “potential,” “would,” or “pursue” or the negatives of these or other comparable terms.

All forward-looking statements are subject to risks, uncertainties and other factors that may cause the actual results, performance or achievements of Allegiance and CBTX to differ materially from the results expressed or implied by such forward-looking statements. These factors include, among others: (1) the risk that cost savings and revenue synergies from the merger may not be fully realized or may take longer than expected to be realized; (2) disruption of the parties’ businesses due to the pending merger; (3) the occurrence of any event, change or other circumstance that may cause the Merger Agreement to terminate; (4) the risk that the integration of each party’s operations will be materially delayed or be more costly or more difficult than anticipated or that the parties will otherwise be unable to successfully integrate each party’s businesses into the businesses the other ; (5) the amount of costs, fees, expenses and charges relating to the merger; (6) the ability of each party to obtain the regulatory approvals required for the merger (and the risk that such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the transaction); (7) reputational risk and the reaction of each company’s customers, suppliers, employees or other business partners to the merger; (8) failure to satisfy the closing conditions of the Merger Agreement or any unforeseen delay in closing the Merger; (9) the possibility that the merger will be more costly to complete than anticipated, including due to unexpected factors or events; (10) dilution caused by CBTX issuing additional shares of its common stock in connection with the merger; (11) general competitive, economic, political and market conditions; and (12) other factors that could affect the future results of Allegiance and CBTX, including changes in asset quality and credit risk; failure to sustain revenue and earnings growth; changes in interest rates and capital markets; inflation; customers’ borrowing, repayment, investment and deposit practices; the impact, extent and timing of technological changes; capital management activities; and other actions of the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency, as well as legislative and regulatory actions and reforms.

Other factors that could affect Allegiance’s and CBTX’s future results can be found in Allegiance’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. and CBTX’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, in each case filed with the SEC and available on the SEC’s website at https :// www.sec.gov. Each of Allegiance and CBTX disclaims any obligation and does not intend to update or revise any forward-looking statements contained in this communication, which speak only as of the date hereof, whether as a result of new information, future events or otherwise, except as required by federal securities laws. Because forward-looking statements involve significant risks and uncertainties, caution should be exercised not to place undue reliance on such statements.

Allegiance Bancshares, Inc.
[email protected]

CBTX, Inc.
[email protected]

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Valerie J. Wallis