Financial Advisor
Veritex Holdings, Inc.
M&A Advisory
Has Acquired A 49% Interest In
Transaction Details
- On April 27, 2021, Veritex Holdings, Inc. (“Veritex”), announced it has agreed to acquire a 49% interest in Thrive Mortgage, LLC (“Thrive”) in a transaction valued at $53.9 million
- Upon completion of the investment, Veritex will obtain the right to designate a member to Thrive’s board of directors
- Veritex’s investment in Thrive is anticipated by Veritex to increase fee income with a counter cyclical business to Veritex’s asset sensitive balance sheet
- The transaction is expected to close in the middle of 2021
About the company
Veritex Holdings, Inc.
Headquartered in Dallas, Texas, Veritex is a bank holding company that conducts banking activities through its wholly-owned subsidiary, Veritex Community Bank, with locations throughout the Dallas-Fort Worth metroplex and in the Houston metropolitan area. Veritex Community Bank is a Texas state chartered bank regulated by the Texas Department of Banking and the Board of Governors of the Federal Reserve System.
Thrive Mortgage, LLC
Thrive is a family-owned business headquartered in Georgetown, Texas. Thrive is an industry leader in transforming the home financing process into a customer centered digital experience and is the first company in Texas to close a fully electronic note with a remote notary. Thrive’s markets include, among others, Texas, Ohio, Colorado, Kentucky, North Carolina, Kansas, Virginia, Florida, Maryland and Indiana.
Sources: Company Materials.
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