CBTX - CBTX STOCK NEWS

HOUSTON, Sept. 22, 2022 – CBTX announced a new share repurchase program authorizing the buyback of up to $40 million of its common stock, effective until September 30, 2023. The program allows for repurchases in various manners such as open market transactions and private negotiations. The number of shares repurchased will depend on market conditions and internal priorities. This initiative aims to enhance shareholder value but does not obligate the company to buy a specific amount or number of shares. The repurchase program can be modified or suspended at any time.

CBTX, Inc. (Nasdaq: CBTX) announced a quarterly cash dividend of $0.13 per share, payable on October 14, 2022, to shareholders of record as of September 29, 2022. This dividend will not be available for shares issued upon the anticipated merger with Allegiance Bancshares, Inc., expected to close on or about October 1, 2022. The company aims to continue providing financial services while navigating potential risks, including those related to the pending merger and varying economic conditions.

The recent merger announcement between Allegiance Bancshares and CBTX has received regulatory approval, paving the way for the finalization scheduled for October 1, 2022. With no further approvals needed, the merger aims to create a significant Texas banking entity, expected to enhance service capabilities for a wide range of customers across Houston and beyond. The combined entity will be known as Stellar Bancorp, Inc., trading under the symbol STEL. Leadership will be unified under CBTX CEO Robert R. Franklin, Jr., who emphasizes mutual cultural alignment and long-term value creation.

CBTX, Inc. reported a net income of $11.7 million or $0.48 per diluted share for Q2 2022, matching Q2 2021's results. Loan growth surpassed $3 billion, up $153 million from Q1 2022. The company saw an increase in net interest income, totaling $34.9 million, with a net interest margin of 3.49%, up from 3.22% in Q1 2022. CBTX received shareholder and regulatory approvals for its merger with Allegiance Bancshares, boosting confidence despite ongoing economic challenges.

HOUSTON, July 18, 2022 (GLOBE NEWSWIRE) -- CBTX, Inc. (NASDAQ: CBTX), the bank holding company for CommunityBank of Texas, will hold a quarterly conference call on July 29, 2022, at 8:00 a.m. CT to discuss its second quarter 2022 financial results. Investors can access the live webcast via the Company’s Investor Relations website, with an archived version available for one year. CBTX focuses on providing commercial banking solutions for small and mid-sized businesses in Texas, emphasizing its growth strategy amidst evolving market conditions.

CBTX, Inc. (NASDAQ: CBTX) will host a quarterly conference call on July 19, 2022, at 8:00 a.m. CT to discuss its second quarter 2022 financial results. Interested parties can access the live webcast via the Company’s Investor Relations page. An archived edition will be available for one year. CBTX operates CommunityBank of Texas, providing banking solutions to small and mid-sized businesses in Texas. Forward-looking statements in the release caution that actual results may differ from expectations due to various risks and uncertainties.

On June 16, 2022, Allegiance Bancshares and CBTX, Inc. announced receiving regulatory approval from the FDIC for their planned merger. This approval follows shareholder consent from both companies. The merger, valued at an undisclosed amount, is projected to close in Q3 2022, pending additional regulatory approvals from the Federal Reserve and Texas Department of Banking. As of March 31, 2022, Allegiance managed $7.15 billion in assets, while CBTX reported $4.45 billion in assets, both focusing on commercial banking services.

CBTX, Inc. (Nasdaq: CBTX) announced a quarterly cash dividend of $0.13 per share, payable on July 15, 2022, to shareholders on record as of June 29, 2022. This dividend declaration reflects the company's ongoing commitment to shareholder returns. CBTX serves as the holding company for CommunityBank of Texas, providing commercial banking solutions primarily to small and mid-sized businesses in Texas.

On May 24, 2022, shareholders of Allegiance Bancshares and CBTX approved their merger agreement, paving the way for the establishment of Stellar Bank. Over 99.5% of shares were in favor at both special meetings, indicating strong support. This merger aims to create a competitive financial institution capable of providing comprehensive services across the Houston area. The closing of the merger is subject to regulatory approvals and other customary conditions.