Veritex Holdings Inc. in Dallas has completed its purchase of Fidelity Bank, marking its second deal to close since raising $45 million.
Buying the $150 million-asset Fidelity in Plano follows the September 2010 purchase of the $141 million-asset Professional Bank in Dallas, which was renamed Veritex Bank. With Fidelity, Veritex Bank has $350 million in assets and seven branches.
Veritex said in a press release Wednesday that Bill Murphy, the president and chief executive of Fidelity Bank, has become its vice chairman.
Veritex is led by C. Malcolm Holland, a former Texas president for Colonial BankGroup Inc. Holland's goal is to build Veritex into a $1.5 billion-asset bank. Backers include SunTx Capital Partners, a private-equity firm that owns a 24.9% stake in the company.