Company Profile
- Founded in 1991, VeraBank, Inc. (“VeraBank” or “the company”) is the bank holding company for privately held VeraBank, National Association (“the bank”), headquartered in Henderson, TX. The company, currently with $4.1 billion in assets, operates 39 branches predominantly in the smaller communities of East TX, parts of Central TX, including the suburbs of Austin.
- VeraBank’s growth has been a balanced mix of organic and inorganic. The Austin MSA remains a key focus for expansion, following a team lift out of local bankers in the fall of 2020, the company opened its first full-service branch in the city in early 2021. Moreover, the company has completed six acquisitions since 2012, the most recent being in 2Q21, which was $125 million-asset Panola National Bank in East TX.
- The company provides a wide array of product offerings within retail and commercial banking. The loan portfolio’s largest concentration is residential mortgage, representing 33%…