Allegiance Bancshares, the holding company of Allegiance Bank, and CBTX, the holding company of CommunityBank of Texas, jointly received regulatory approval from the FDIC for their merger. This follows the recent approval from shareholders of both companies.

The merger remains subject to the receipt of regulatory approvals from the Board of Governors of the Federal Reserve System and the Texas Department of Banking. The closing of the merger is expected in Q3/23 after receipt of such approvals and the satisfaction of other customary closing conditions.