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In a move that underscores the growing financial power play in Texas, National Bank Holdings Corp. announced Tuesday it will acquire Vista Bancshares Inc. in a deal valued at $369.1 million, setting the stage for a dramatic expansion across the Dallas-Fort Worth metroplex.

The Terms of the Agreement

Under the agreement, Vista Bank shareholders will collect $84.8 million in cash and about 7.4 million shares of NBHC common stock, though adjustments remain possible.

Vista Bank, with $2.4 billion in assets, $2.1 billion in deposits, $1.9 billion in loans, and 11 banking centers as of June 30, will be folded into a powerhouse. The combined company is projected to hold roughly $12.4 billion in pro forma assets and $10.4 billion in pro forma deposits.

CEOs Outline the Vision

Tim Laney, chair and CEO of NBHC, hailed the merger as a leap forward:

“This strategic partnership expands our footprint within the dynamic and fast-growing Dallas-Fort Worth metroplex. The combination of our fortress balance sheet and Vista’s exceptional client service enables us to offer differentiated and expanded banking services.”

For Vista Bank CEO John D. Steinmetz, the acquisition represented the strongest path forward, even above an IPO.

“It’s been our board’s top priority to create best-in-class shareholder value by building the best place to work. While we considered multiple opportunities and strongly weighed an IPO, once we met the NBHC team, it became clear NBH Bank is the right partner at the right time.”

Steinmetz will continue to lead the expanded Texas market post-merger.

The Road to Completion

The transaction, unanimously approved by both boards, is slated to close in the first quarter of 2026, pending regulatory approvals and a green light from Vista shareholders.

The Legal Architects

The deal teams behind the billion-dollar chess move include Wachtell Lipton Rosen & Katz, advising NBHC, led by Mark F. Veblen with partners Damian G. Didden, Richard K. Kim, Jeannemarie O’Brien, and Joshua M. Holmes.

Vista Bancshares was represented by Squire Patton Boggs LLP, though details on its deal team were not immediately disclosed.