Spirit of Texas Bancshares, Inc. Launches Initial Public Offering of Common Stock

HOUSTON, April 26, 2018 /PRNewswire/ -- Spirit of Texas Bancshares, Inc. (the "Company"), the bank holding company for Spirit of Texas Bank, today announced the launch of its initial public offering of shares of its common stock.  The Company intends to offer 1,905,000 shares of its common stock.  The Company also expects to grant the underwriters a 30-day option to purchase up to an additional 285,750 shares of its common stock.  The initial public offering price is currently expected to be between $20.00 and $22.00 per share.  The Company has applied to list its common stock on the NASDAQ Global Market under the trading symbol "STXB."

The Company intends to use the net proceeds from the proposed offering to fund organic growth in new and existing markets, potential future merger and acquisition activity, and general corporate purposes. The Company may use a portion of the net proceeds from the proposed offering to repay outstanding indebtedness under the Company line of credit.

Stephens Inc. and Keefe, Bruyette & Woods, a Stifel Company are acting as joint book-running managers for the proposed offering.  Piper Jaffray and Sandler O'Neill + Partners, L.P. are acting as co-managers.

The proposed offering will be made only by means of a prospectus.  Copies of the preliminary prospectus relating to the proposed offering may be obtained from Stephens Inc., 111 Center Street, Little Rock, Arkansas 72201, Attention: Syndicate, or by calling toll-free 1-800-643-9691 or Keefe, Bruyette & Woods, Inc., 787 Seventh Avenue, 4th Floor, New York, New York 10019, Attention: Equity Capital Markets, or by calling toll-free 1-800-966-1559.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Spirit of Texas Bancshares, Inc.

The Company is the bank holding company for Spirit of Texas Bank, a state savings bank with total assets of $1.03 billion, headquartered in Conroe, Texas that delivers relationship-driven financial services to small and medium-sized businesses and individuals through 15 full-service branches located primarily in the Houston and Dallas/Fort Worth metropolitan areas.

Cautionary Note Regarding Forward-Looking Statements

Information set forth in this press release may contain various "forward-looking statements." These forward looking statements describe our future plans, results, strategies and expectations and are subject to business, economic, and other risks and uncertainties, both known and unknown, that could cause our actual operating results and financial position to differ materially from the forward-looking statements. Such forward-looking statements can be identified by the use of forward-looking terminology such as "may," "will," "should," "could," "would," "goal," "plan," "potential," "expect," "anticipate," "estimate," "project," "target," "aim," "believe," or "continue," or the negative thereof or other variations thereof or comparable terminology. We have made the forward-looking statements based on assumptions and estimates that we believe to be reasonable in light of the information available to us at this time. However, these forward-looking statements are subject to significant risks and uncertainties, and could be affected by many factors.

Numerous factors may cause our results to differ materially from the anticipated or estimated results described in our forward-looking statements. Most of these factors are difficult to anticipate and are generally beyond our control. You should not rely on any forward-looking statements, which represent our beliefs, assumptions and estimates only as of the dates on which they were made, as predictions of future events. We undertake no obligation to release publicly any revisions to any forward-looking statements, to report events or to report the occurrence of unanticipated events unless we are required to do so by law. We qualify all of our forward-looking statements by these cautionary statements. 

Contacts:
Ken Dennard / Natalie Hairston
Dennard Lascar Investor Relations
713-529-6600
STXB@dennardlascar.com

SOURCE Spirit of Texas Bancshares, Inc.