Veritex in Texas Could Raise $40 Million from IPO

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Veritex Holdings in Dallas could sell up to $40.4 million of its common stock as part of its initial public offering.

The $710 million-asset company filed plans to go public in late August. The company said in a regulatory filing Thursday that it intends to sell 2.7 million shares at $13 each. It has also given its underwriters the option to buy an additional 405,000 shares.

Veritex's chief executive, C. Malcolm Holland, was previously a regional president for the $25 billion-asset Colonial Bank in Montgomery, Ala., which failed in August 2009 and was sold to the $184 billion-asset BB&T.

The offering is being underwritten by Sandler O'Neill, Stephens Inc. and Sterne Agee.

Veritex has nine branches on the north side of Dallas.

Kristin Broughton

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