Allegiance Bancshares, Inc. and CBTX, Inc. Shareholders Approve Merger

HOUSTON, May 24, 2022 (GLOBE NEWSWIRE) -- Allegiance Bancshares, Inc. (NASDAQ: ABTX) (“Allegiance”), the holding company of Allegiance Bank, and CBTX, Inc. (NASDAQ: CBTX) ("CBTX"), the holding company of CommunityBank of Texas, N.A., announced today that their respective shareholders had approved the agreement for the merger of equals of Allegiance and CBTX. These approvals complete another step in the process to establish Stellar Bank, a premier local bank with the scale and capabilities to provide extraordinary service to a broad range of business and consumer customers throughout the Houston region and beyond.

At the respective special meetings of Allegiance and CBTX shareholders held today, approximately 99.68% and 99.58%, respectively, of the shares voted were cast in favor of the proposal to approve the merger agreement.

“We are very pleased with the approval by our shareholders of the merger of Allegiance with CBTX,” said Allegiance Chairman and CEO Steve Retzloff. “Our companies complement each other nicely and the combined company will be a powerful competitor across our markets. Together, we are poised to deliver long-term value for our shareholders, customers, employees and communities,” continued Retzloff.

“We are excited about our upcoming merger of equals with Allegiance Bank,” said Robert R. Franklin, Jr., Chairman, CEO and President of CBTX, Inc. “As we look at our important constituencies, we see great opportunities to enhance our relationships with each and continue to serve their needs in our combined organization — only better,” concluded Franklin.

The companies expect to close the merger after receipt of regulatory approvals and the satisfaction of other customary closing conditions.

About Allegiance Bancshares, Inc.

As of March 31, 2022, Allegiance was a $7.15 billion asset Houston, Texas-based bank holding company. Through its wholly owned subsidiary, Allegiance Bank, Allegiance provides a diversified range of commercial banking services primarily to small- to medium-sized businesses and individual customers in the Houston region. As of March 31, 2022, Allegiance Bank operated 27 full-service banking locations in the Houston region, which we define as the Houston-The Woodlands-Sugar Land and Beaumont-Port Arthur metropolitan statistical areas. Visit www.allegiancebank.com for more information.