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ViewPoint Bank to become LegacyTexas on Jan. 1

January 2,2015

Reposted from Fort Worth Business Press 

ViewPoint Financial Group Inc. will complete its merger with LegacyTexas Group Inc. on Jan. 1, 2015 and the new group will be known as LegacyTexas Financial Group Inc., based in Plano.
Effective Jan. 2, 2015, the company will be traded on the NASDAQ Global Select Market under the ticker symbol "LTXB".


Also effective Jan. 1, ViewPoint's bank subsidiary, ViewPoint Bank N.A., will merge into LegacyTexas Group Inc.'s subsidiary bank, LegacyTexas Bank, with the merged bank retaining the LegacyTexas Bank name. Branch and branding integration is planned for February, and, at that time, customers of both institutions will be able to conduct business at any of the LegacyTexas locations.


At completion of the merger, Mays Davenport, executive vice president of LegacyTexas Bank, will join the company as executive vice president and chief financial officer, and George Fisk, CEO and vice chairman of LegacyTexas Group Inc., and Greg Wilkinson, director of LegacyTexas Group Inc., will serve on the Boards of Directors of the company and the merged LegacyTexas
Bank. Kevin Hanigan will continue to serve the company and the merged LegacyTexas Bank as president and CEO. Additionally, Arcilia Acosta, who has served on the Board of Directors of ViewPoint Bank since 2013, will be appointed to the Board of Directors of the company, effective Jan. 1.


"What a great day for all who have worked so hard on this game-changing merger," said ViewPoint president and CEO Kevin Hanigan. "The combination of these two banks is a major step in our strategy to become the bank of choice for Dallas and Fort Worth-based businesses, entrepreneurs and families."
The merger creates one of the largest independent Texas financial services companies, with combined assets of nearly $6 billion. The company will rank first in deposit market share in Collin County and third in deposit market share among Texas-based independent banks in the Dallas/Fort Worth Metroplex. LegacyTexas has 20 branches, including one in downtown Fort Worth while ViewPoint has 31 branches including 3 in Tarrant County.