The Bank Slate


Veritex in Dallas selling minority stake in mortgage company

Veritex Holdings in Dallas has agreed to sell its minority stake in a mortgage company.

The $12.3 billion-asset company disclosed in a regulatory filing that it will sell its 49% stake in Thrive Mortgage to Lower Holding Co. Veritex will buy a roughly 12.5% equity interest in Lower Holding.

The transactions are expected to close in the first quarter.

Veritex said it expects to recognize a $25 million to $30 million loss on the existing investment in the fourth quarter.

Leave a Reply

Your email address will not be published. Required fields are marked *