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Texas Capital Bancshares And Independent Bank To Merge

Texas Capital Bancshares Inc. (TCBI) and Independent Bank Group Inc. (IBTX) agreed to combine in an all-stock merger of equals with a total market value of about $5.5 billion.

The name of the combined holding company will be Independent Bank Group and the name of the combined bank will be Texas Capital. Retail locations in Colorado will continue to operate and retain the Independent Financial branding. The corporate headquarters of the combined company will be located in McKinney, Texas.

The combined company will trade under the Independent Bank Group ticker symbol "IBTX" on The Nasdaq Stock Market.

As per the terms of the merger agreement, Texas Capital shareholders will receive 1.0311 shares of Independent Bank Group for each Texas Capital share they own. Former Texas Capital shareholders will own 55% and Independent Bank Group shareholders will own 45% of the combined company.

The merger is expected to close in mid-2020.

The Chairman, President and CEO of the combined company will be David Brooks. David Brooks is currently Chairman and CEO of Independent Bank Group.

Keith Cargill will serve as Special Advisor to the Chairman, President and CEO and continue to assist the franchise in talent and client retention in addition to advising on key strategic initiatives.

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