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CBTX Prices 2.4 Mln Shares IPO At $26/share

CBTX, Inc. (CBTX), the bank holding company for CommunityBank of Texas, N.A., announced late Tuesday the pricing of the initial public offering of 2.4 million shares of its common stock at a public offering price of $26 per share.

CBTX has also granted the underwriters a 30-day option to purchase up to an additional 360 thousand shares of its common stock. CBTX's common stock is expected to begin trading on the NASDAQ Global Select Market under the trading symbol "CBTX" on November 8.

CBTX said it intends to use the net proceeds from the offering to support its organic growth and for general corporate purposes, including maintenance of its required regulatory capital, and potential future acquisition opportunities.

Stephens Inc. and Keefe, Bruyette & Woods, a Stifel Company are acting as joint book-running managers for the offering.

CBTX offers commercial banking solutions to local small and mid-sized businesses and professionals in Houston, Beaumont and surrounding communities in southeast Texas.

by RTTNews Staff Writer

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