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CBTX Inc. files for IPO

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CBTX Inc. files for IPO

Beaumont, Texas-based CBTX Inc. has filed a preliminary prospectus for an initial public offering with a maximum aggregate price of $50 million.

Stephens Inc., Keefe Bruyette & Woods Inc. and Sandler O'Neill & Partners LP are underwriting the offering.

The maximum aggregate price was estimated solely to calculate the registration fee. The company expects to use the proceedings for organic growth and other general corporate purposes, such as maintaining regulatory capital and potential acquisitions.

CBTX is the parent of CommunityBank of Texas NA. The bank has 34 branches, including 18 in the Houston metro area, and as of June 30 it had $2.94 billion in assets.

The holding company has applied to list its common stock on the Nasdaq Global Select Market under the ticker CBTX.

Umphrey II Family LP owns 5.51% of the company, according to SNL data.