Veritex Holdings, Inc. Announces Pricing of Subordinated Notes Offering

DALLAS, Sept. 30, 2020 (GLOBE NEWSWIRE) -- Veritex Holdings, Inc. (Nasdaq: VBTX) (“Veritex” or the “Company”), the parent holding company for Veritex Community Bank, today announced that it has priced the underwritten public offering of $125 million aggregate principal amount of its Fixed-to-Floating Rate Subordinated Notes due 2030 (the "Notes"). The Notes will initially bear a fixed interest rate of 4.125% per year. Commencing on October 15, 2025, the interest rate on the Notes will reset on a quarterly basis to a floating rate per annum equal to a benchmark rate, which is expected to be Three-Month Term SOFR (as defined in the Notes), plus 399.5 basis points, payable quarterly in arrears. The offering is expected to fund on October 5, 2020, subject to the satisfaction of customary closing conditions.

Veritex intends to use the proceeds of the offering for general corporate purposes, including the potential repayment of outstanding indebtedness, and supporting capital levels at Veritex Community Bank.

Keefe, Bruyette & Woods, A Stifel Company is the sole book-running manager for the offering. Stephens Inc. and Raymond James & Associates, Inc., are co-managers.

The Notes will be issued pursuant to an effective shelf registration statement (File No. 333-222165) which Veritex filed with the Securities and Exchange Commission (the "SEC") and only by means of a prospectus supplement and accompanying prospectus. A preliminary prospectus supplement (the "Preliminary Prospectus Supplement") has been filed with the SEC for the offering to which this communication relates. Prospective investors should read the Preliminary Prospectus Supplement and the accompanying prospectus and other documents Veritex has filed with the SEC for more complete information about Veritex and the offering. You may access these documents for free by visiting EDGAR on the SEC's website at www.sec.gov. Alternatively, Veritex, the underwriters or any dealer participating in the offering will arrange to send you the prospectus and the related Preliminary Prospectus Supplement if you request it by calling Keefe, Bruyette & Woods, A Stifel Company at [phone] or e-mailing [e-mail].