Texas Capital Bancshares and Independent Bank Group said on Monday they would combine in a transaction structured as a merger of equals, creating the second-largest lender by assets headquartered in the Lone Star state.
US regional banks have been coming together as they seek scale to reduce costs and share the burden of investing in new technology. The return of interest-rate reductions in 2019 also puts pressure on banks’ profitability, as they can’t charge as much to lend money.
The combined company will have about $48 billion in assets and $39 billion in deposits, with legacy Texas Capital shareholders controlling 55% of the new bank, according to a joint statement.
Full Content: Reuters
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
DOJ and FTC Introduce Website for Reporting Anti-Competitive Healthcare Practices
Apr 18, 2024 by
CPI
US Congress Advances Legislation to Compel TikTok Sale
Apr 18, 2024 by
CPI
UK Financial Sector Advocates Enhanced Regulatory Accountability
Apr 18, 2024 by
CPI
Google and All 50 States Defend $700 Million Consumer Settlement
Apr 18, 2024 by
CPI
Colorado Enacts First Law to Protect Consumer Brainwave Data
Apr 18, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – China Edition – Year of the Dragon
Apr 16, 2024 by
CPI
Review Logic and Rules for Concentrations of Undertakings that Do Not Meet the Standard of Notification
Apr 16, 2024 by
CPI
China’s Review of Semiconductor Transactions
Apr 16, 2024 by
CPI
Key Challenges and Tips for Merger Control Filing in China for Listed Companies
Apr 16, 2024 by
CPI
Key Point Review: China SPC Antitrust Judgments in 2023
Apr 16, 2024 by
CPI