M&A Deal Summary

Veritex Community Bank Acquires North Avenue Capital

On September 21, 2021, Veritex Community Bank acquired financial services company North Avenue Capital for 58M USD

Acquisition Highlights
  • This is Veritex Community Bank’s 5th transaction in the Financial Services sector.
  • This is Veritex Community Bank’s 2nd largest (disclosed) transaction.
  • This is Veritex Community Bank’s 5th transaction in the United States.
  • This is Veritex Community Bank’s 1st transaction in Florida.

M&A Deal Summary
Date 2021-09-21
Target North Avenue Capital
Sector Financial Services
Buyer(s) Veritex Community Bank
Deal Type Add-on Acquisition
Deal Value 58M USD
Advisor(s) Harbor View Advisors
Allen C. Ewing & Co. (Financial)
Womble Bond Dickinson (Legal)

Target

North Avenue Capital

Ponte Vedra, Florida, United States
North Avenue Capital is a regulated, non-depository government-guaranteed lender. NAC originates and services loans exclusively through the USDA B& I guaranteed loan program within the USDA Rural Development Program. North Avenue Capital was established in 2015 and is based in Ponte Vedra, Florida.

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Buyer(S) 1

Buyer

Veritex Community Bank

Dallas, Texas, United States
Category Company
Founded 2009
Sector Financial Services
Employees820
Revenue 449M USD (2023)
DESCRIPTION

Veritex Community Bank is a bank holding company that conducts banking activities through its wholly-owned subsidiary, Veritex Community Bank, with locations throughout the Dallas metropolitan area. Veritex Community Bank (www.veritexbank.com) is a Texas state-chartered bank regulated by the Texas Department of Banking and the Board of Governors of the Federal Reserve System. Veritex Community Bank was founded in 2009 and is based in Dallas, Texas.

DEAL STATS #
Overall 5 of 6
Sector (Financial Services) 5 of 6
Type (Add-on Acquisition) 3 of 3
State (Florida) 1 of 1
Country (United States) 5 of 6
Year (2021) 1 of 1
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-24 Green Bank

Houston, Texas, United States

Green Bancorp is a bank holding company that operates Green Bank primarily in the Houston and Dallas metropolitan areas. Commercial-focused, Green Bank is a nationally chartered bank regulated by the Office of the Comptroller of the Currency, a division of the Department of the Treasury of the United States.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-03 interLINK

New York, New York, United States

interLINK provides cash management solutions to financial intermediaries, facilitating the investment of cash held in thousands of brokerage accounts into FDIC-insured banks. interLINK administers approximately 420,000 retail brokerage accounts on behalf of multiple broker/dealers and clearing platforms. interLINK was founded in 2010 and is based in New York City.

Buy $91M
Mergr

Product

Company

Legal