CBTX (CBTX) Announces November 8th IPO

CBTX (CBTX) plans to raise $60 million in an IPO on Wednesday, November 8th, IPO Scoop reports. The company will be issuing 2,400,000 shares at $24.00-$26.00 per share.

In the last twelve months, CBTX generated $112.4 million in revenue and $29.9 million in net income. The company has a market-cap of $611.6 million.

Stephens and Keefe, Bruyette & Woods (A Stifel Company) served as the underwriters for the IPO and Sandler O’Neill + Partners, L.P. was co-manager.

CBTX provided the following description of their company for its IPO: “We are a bank holding company that operates through our wholly-owned subsidiary, CommunityBank of Texas, in Houston and Beaumont, Texas. We focus on providing commercial banking solutions to local small and mid-sized businesses and professionals in our markets. Our market expertise, coupled with a deep understanding of our customers’ needs, allows us to deliver tailored financial products and services. “.

CBTX was founded in 2007 and has 472 employees. The company is located at 5999 Delaware Street, Beaumont, TX 77706, US and can be reached via phone at (409) 861-7200 or on the web at http://www.communitybankoftx.com.

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