M&A Deal Summary

Veritex Community Bank Acquires IBT Bancorp

On July 1, 2015, Veritex Community Bank acquired financial services company IBT Bancorp from S&T Bank for 21M USD

Acquisition Highlights
  • This is Veritex Community Bank’s 1st transaction in the Financial Services sector.
  • This is Veritex Community Bank’s 3rd largest (disclosed) transaction.
  • This is Veritex Community Bank’s 1st transaction in the United States.
  • This is Veritex Community Bank’s 1st transaction in Pennsylvania.

M&A Deal Summary
Date 2015-07-01
Target IBT Bancorp
Sector Financial Services
Buyer(s) Veritex Community Bank
Sellers(s) S&T Bank
Deal Type Divestiture
Deal Value 21M USD
Advisor(s) Commerce Street Holdings LLC (Financial)
Haynie, Rake & Repass & Klimko (Legal)

Target

IBT Bancorp

Irwin, Pennsylvania, United States
IBT Bancorp, Inc. is a provider of financial services.

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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 1 of 6
Sector (Financial Services) 1 of 6
Type (Divestiture) 1 of 2
State (Pennsylvania) 1 of 1
Country (United States) 1 of 6
Year (2015) 1 of 1
Size (of disclosed) 3 of 3
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-01 Liberty Bancshares

Fort Worth, Texas, United States

Liberty Bancshares, Inc. (LBI) through Liberty Bank, operates five full service banking locations in Fort Worth and the surrounding Tarrant County. As of June 30, 2017, LBI, on a consolidated basis, reported total assets of $459.3 million, total deposits of $389.4 million, and total equity capital of $48.1 million.

Buy -

Seller(S) 1

SELLER

S&T Bank

Indiana, Pennsylvania, United States
Category Company
Founded 1902
Sector Financial Services
Employees1,244
Revenue 407M USD (2023)
DESCRIPTION

S&T Bank is a provider of financial services. S&T Bank was founded in 1902 and is based in Indiana, Pennsylvania.

DEAL STATS #
Overall 1 of 2
Sector (Financial Services) 1 of 2
Type (Divestiture) 1 of 2
State (Pennsylvania) 1 of 2
Country (United States) 1 of 2
Year (2015) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-30 Integrity Bank

Camp Hill, Pennsylvania, United States

Integrity Bank is a regional bank with branch offices in Cumberland, Dauphin, York and Lancaster counties. Integrity Bank is based in Camp Hill, Pennsylvania.

Buy $155M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-28 Integrity Bank

Camp Hill, Pennsylvania, United States

Integrity Bank is a regional bank with branch offices in Cumberland, Dauphin, York and Lancaster counties. Integrity Bank is based in Camp Hill, Pennsylvania.

Sell -
Mergr

Product

Company

Legal