Scale and capability to better serve the banking needs of our local communities.
We are excited to announce Allegiance Bancshares, Inc. and CBTX, Inc. have combined to create Stellar Bancorp, Inc. (“Stellar”), creating the largest Texas-based community bank headquartered in Houston.
Together, we will serve our customers like never before with enhanced financial solutions while maintaining the personalized service our customers have come to expect. The combined company has locations throughout the Southeast region including Houston, The Woodlands, Sugar Land, Beaumont and Port Arthur as well as Dallas.
Stellar’s common stock will begin trading under its new name on Nasdaq under the ticker symbol “STEL” beginning on October 3, 2022.
The merger was effective October 1, 2022. At the effective time of the merger, each share of Allegiance common stock was converted into 1.4184 shares of Stellar common stock. Allegiance shareholders are entitled to receive cash-in-lieu of fractional shares, in accordance with the terms of the merger agreement. Shareholders of CBTX, Inc. shareholders do not need to take any action regarding their shares.
Banking locations for Allegiance Bank and CommunityBank of Texas will continue to operate under their respective names until full integration is complete, which is anticipated to take place in the first quarter of 2023. Upon integration, the combined bank will operate under the Stellar Bank name. Customers will not experience any changes to their banking and should continue using their current banking locations, checks, bank cards, online banking, and other banking services. Signage and documents will begin to reflect the Stellar Bank name following the integration of the companies’ banking systems.