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Allegiance Closer to IPO After Deal to Buy Houston Rival

August 12, 2013
American Banker

Allegiance Bancshares executives long saw Independence Bank as a potential acquisition target, but what finally prompted the two Houston lenders to pair up? "The Independent IPO really brought a lot of focus in that size range, and the sales pitch is that you could be a part of the next Texas bank to go public," says Daniel Bass, a managing director of Performance Trust Capital Partners, one of the advisors to the $220 million-asset Independence Bank. "It really ignited the banks like Allegiance to try and get to $1.5 billion in assets," a rule of thumb for banks that want to get the market's attention.

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Allegiance acquisition to create $1B bank in Houston

August 5, 2013
Houston Business Journal

Allegiance Bancshares Inc. has agreed to acquire the $220 million-asset Independence Bank, executives told the Houston Business Journal on Monday...the deal gives Allegiance a larger asset base from which to launch another major franchise in the city, said Dan Bass, Houston managing director for Performance Capital Trust Partners LLC. “I think they’re going to be a major player in Houston on a long-term basis,” Bass said. “Once you get to $1 billion (in assets), you’re on the radar screen for people trying to get into Houston. Not that they’d sell, … but the bigger you are, then the more you can spread out the cost and drive the efficiency ratio down.”

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