|independent bank group merger texas||0.76||0.8||2093||60|
It could take five to 10 years to fully relocate employees, but Independent Bank expects to break ground on the expansion by the time the merger closes in mid-2020. The deal includes a $115 million breakup fee if either bank backs out.Who are the banks merging in North Texas?
Two North Texas-based banks, Texas Capital Bancshares Inc. and Independent Bank Group Inc., are merging in an all-stock deal valued at $5.5 billion. Under the agreement announced early Monday, the resulting holding company will retain the Independent Bank Group name and its bank will operate as Texas Capital.Who is the CEO of Independent Bank Group?
David R. Brooks, Independent Bank Group’s chairman and CEO, will lead the merged bank. Cargill will serve as a special adviser, assisting with talent and client retention and strategic initiatives. Cargill, one of Texas Capital’s founders, could receive an exit package totaling around $8 million based on the company’s regulatory filings.How many independent banks are there in Texas?
Eight of 11 Texas Capital branches are within 5 miles of an Independent Bank branch, according to the companies. Brooks declined to describe where staff cuts might occur. The two companies have focused banking operations in Texas’ four major metros — Dallas, Austin, San Antonio, Houston — and Denver.