Veritex Holdings to acquire StoneCastle Cash Insured Sweep from StoneCastle Partners for $91m.

Veritex Holdings, a bank holding company, agreed to acquire StoneCastle Cash Insured Sweep, a diversified financial company, from StoneCastle Partners, a financial services company, for $91m. “We are excited at the opportunity to enhance our funding and liquidity profile with a modern, branchless distribution channel that provides sticky core deposits to fund several years of future growth. Meeting the needs of customers and communities is priority number one and interLINK enables us to do that with low-cost, flexible funding that will continue to scale with minimal overhead to generate positive operating leverage. On top of that, the financial benefits to shareholders are expected to be significant with low-risk given the capital-light nature of the business and our significant expertise buying and integrating businesses over that last 10 years," C. Malcolm Holland, Veritex Chairman and CEO.