Banking Veteran Phil Donnelly Joins Veritex Community Bank as SEVP and General Counsel

Rhea-AI Summary

DALLAS and HOUSTON, May 16, 2022 - Phil Donnelly has joined Veritex Community Bank as Senior Executive Vice President and General Counsel, bringing over 32 years of experience in financial services. He will lead the legal team and manage corporate governance, compliance, and regulatory matters. Donnelly previously held key roles in various banks and was pivotal in acquiring nine banks, forming a $10 billion financial institution. CEO C. Malcolm Holland praised his extensive expertise in regulatory, M&A, and corporate governance, stating that Donnelly will strengthen the bank's strategic initiatives.

Positive

• Phil Donnelly's extensive experience in financial services and leadership roles enhances Veritex's legal and governance capabilities.
• Donnelly's track record of managing acquisitions and his expertise in compliance and risk management will support the bank's growth strategy.
• The bank's total assets exceeding $10 billion position it well in the marketplace, with a focus on underserved retail and mid-size businesses.

Negative

• None.

DALLAS and HOUSTON, May 16, 2022 (GLOBE NEWSWIRE) -- Long time banking veteran Phil Donnelly has joined Veritex Community Bank as the bank’s Senior Executive Vice President and General Counsel. In addition to leading the bank’s legal team, Donnelly will oversee Veritex Bank’s corporate governance and manage all regulatory matters.

Donnelly brings more than 32 years of leadership expertise in the financial services industry. As General Counsel, he has worked in both domestic and international organizations and for public and private institutions. His resume includes leadership positions at Starbuck Bancshares, Inc., AmericanWest Bank, Mutual of Omaha Bank, and FINOVA Capital Corporation. He is skilled in M&A, corporate governance, commercial finance, complex litigation management, contracts, human resources, compliance, and risk management.

As a member of the bank’s executive leadership team, Donnelly will work hand-in-hand with senior management in developing and implementing bank-wide strategic business initiatives and in the creation of new procedures and protocols designed to strengthen the bank’s contracts, compliance, and risk management position. As Senior Executive Vice President and General Counsel, he will be primary counsel to various departments within the bank including accounting, human resources, and risk management, regarding investor correspondence, employee matters, corporate insurance, and regulatory applications.

He recently served as General Counsel and Director of HR to a publicly traded Berkshire Hathaway and Leucadia National subsidiary. He was responsible for the acquisition of nine banks in the western U.S., creating a $10 billion financial institution. He successfully has managed and integrated diverse teams of professionals including, in-house and outside counsel, human resources, marketing personnel and other professionals.

“Phil Donnelly’s reputation more than precedes him; he is a model for excellence in the banking industry,” CEO of Veritex Bank, C. Malcolm Holland said. “He knows first-hand what it took to build Veritex to where it is today, and he understands how to help take Veritex to where it needs to be. Adding his skill set in compliance, regulatory, M&A, and corporate governance will only make the extraordinary team that we have in place, better.

“I am very excited to join the team at Veritex Bank,” said Donnelly. “The banking possibilities beyond $10 Billion are exciting, and the regulatory demands on the bank will increase as well. I look forward to ensuring the bank stays the steady course that has been set for it over the past eleven years.” Donnelly said.

Donnelly has spent most of his professional career in Arizona. He earned his undergraduate degree in 1984 and his J.D. from St. John’s University in Queens, New York in 1987.

About Veritex Bank

Veritex Community Bank is a mid-sized community bank serving its customers with a full suite of banking products and services. The bank has more than 30 branch locations in Houston, Fort Worth and Dallas, Texas with total assets of more than $10 billion. The bank specializes in providing depository and credit services to retail and small- to mid-size businesses, which have been largely neglected by national banks. The name “Veritex” is derived from the Latin word “veritas,” meaning truth, and “Texas.”

FAQ

Who is Phil Donnelly and what is his role at Veritex Community Bank?

Phil Donnelly is the new Senior Executive Vice President and General Counsel at Veritex Community Bank, overseeing the bank's legal team and corporate governance.

What experience does Phil Donnelly bring to Veritex Bank?

Donnelly has over 32 years of experience in the financial services industry, holding leadership positions in various banks and managing significant acquisitions.

What are Veritex Community Bank's total assets?

Veritex Community Bank has total assets exceeding $10 billion, indicating its strong position in the banking industry.

What strategic initiatives will Phil Donnelly focus on at Veritex Community Bank?

Donnelly will focus on enhancing compliance, risk management, and corporate governance as part of the bank's strategic business initiatives.