DALLAS, Oct. 23, 2017 (GLOBE NEWSWIRE) -- Veritex Holdings, Inc. (NASDAQ:VBTX), the parent holding company of Veritex Community Bank, today announced that Veritex Community Bank entered into a Purchase and Assumption Agreement with Horizon Bank, SSB to sell certain assets associated with the Austin and Cedar Park branches located in Austin, Texas.

The pending sale is expected to close in the first quarter of 2018, subject to the necessary regulatory approvals. Customers of these branches will receive additional information regarding the impact of the sale in the near future. After the sale close, Veritex will have no branch offices in these communities. Terms of the transaction were not announced.

After the sale of the Austin branches, Veritex will operate 17 branch locations throughout the Dallas-Fort Worth metroplex, two branches in the Houston metropolitan area and one mortgage office. Veritex Community Bank is a Texas state chartered bank regulated by the Texas Department of Banking and the Board of Governors of the Federal Reserve System.