The Bank Slate


StoneCastle terminates interLINK sale to Veritex

StoneCastle Partners has terminated an agreement to sell its digital deposit-gathering business to Veritex Holdings in Dallas. 

The $11.3 billion-asset Veritex agreed in March to buy interLINK for $91 million in cash and stock.
Veritex has already received approval from the Texas Department of Banking and was pursuing approval from the Federal Deposit Insurance Corp. 
Veritex said in a regulatory filing that it “believes all the other conditions precedent to closing under the agreement were, or were reasonably be expected to have been, satisfied.” 
While neither party will pay a termination fee, Veritex said it is considering all options tied to the terminated agreement, including possible willful and material breaches by StoneCastle.

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