Spirit of Texas Bancshares, Inc. | Stephens

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Financial Advisor and Fairness Opinion

Spirit of Texas Bancshares, Inc.

$66 Million 07/24/2019 Depository Complete
Public Companies
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Transaction Details

  • On July 24th, 2019, Spirit of Texas Bancshares, Inc. (NASDAQ: STXB)(“Spirit”) announced that it is acquiring Chandler Bancorp, Inc. and its subsidiary, Citizens State Bank (together, “Citizens”)
  • Under the terms of the transaction, Spirit will issue 2,100,000 shares of its common stock and pay approximately $19.2 million in cash to Citizens
  • Total consideration value of approximately $65.6 million based on Spirit’s closing price of $22.10 per share on July 23, 2019
  • As a result of the transaction, Spirit will add seven full-service branches to Spirit of Texas Bank’s existing 29 locations
  • The transaction is Spirit’s 10th acquisition since 2008 and will be the third acquisition since Spirit’s May 2018 initial public offering
Sources: Company filings, S&P Global and publicly available information.
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    The offering of these securities is being made only by means of a prospectus, copies of which may be obtained from Stephens Inc.’s Equity Syndicate Desk, at Stephens Inc., 111 Center Street, Little Rock, AR 72201, ATTN: Equity Syndicate Desk, or from the Securities and Exchange Commission’s website at www.sec.gov at the following link: https://www.sec.gov/Archives/edgar/data/1499453/000119312519201318/d753665d424b5.htm. Additionally, a copy of the investor presentation may be obtained at the following link: https://www.sec.gov/Archives/edgar/data/1499453/000119312519201275/d692295dex994.htm. A registration statement relating to these securities has been filed with the Securities and Exchange Commission. No offer to buy the securities can be accepted and no part of the purchase price can be received until the registration statement has become effective, and any such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time prior to the notice of its acceptance given after the effective date.