ViewPoint Financial (VPFG) Will Complete LegacyTexas Group Merger on Jan. 1st (LTXB)

ViewPoint Financial Group (Nasdaq: VPFG)(Nasdaq: LTXB) announced that it expects to complete its merger with LegacyTexas Group, Inc. on January 1, 2015, and will change its name to LegacyTexas Financial Group, Inc. (the "Company") on that date. Effective January 2, 2015, the Company will be traded on the NASDAQ Global Select Market under the ticker symbol "LTXB".

Under the terms of the merger agreement, LegacyTexas Group, Inc. shareholders will receive 7.85 million shares of Company common stock plus approximately $115 million in cash for all the outstanding stock of LegacyTexas Group, Inc.

Also effective January 1, 2015, ViewPoint's bank subsidiary, ViewPoint Bank, N.A., will merge into LegacyTexas Group, Inc.'s subsidiary bank, LegacyTexas Bank, with the merged bank retaining the LegacyTexas Bank name. Branch and branding integration is planned for February, and, at that time, customers of both institutions will be able to conduct business at any of the LegacyTexas locations.

At completion of the merger, Mays Davenport (Executive Vice President of LegacyTexas Bank) will join the Company as Executive Vice President and Chief Financial Officer, and George Fisk (Chief Executive Officer and Vice Chairman of LegacyTexas Group, Inc.) and Greg Wilkinson (director of LegacyTexas Group, Inc.) will serve on the Boards of Directors of the Company and the merged LegacyTexas Bank. Kevin Hanigan will continue to serve the Company and the merged LegacyTexas Bank as President and Chief Executive Officer. Additionally, Arcilia Acosta, who has served on the Board of Directors of ViewPoint Bank since 2013, will be appointed to the Board of Directors of the Company, effective January 1, 2015.

"What a great day for all who have worked so hard on this game-changing merger," said ViewPoint President and Chief Executive Officer Kevin Hanigan. "The combination of these two banks is a major step in our strategy to become the bank of choice for Dallas and Fort Worth-based businesses, entrepreneurs and families."

"This partnership creates one of the premier banking organizations in Texas," said LegacyTexas Group, Inc. Vice Chairman and Chief Executive Officer George A. Fisk. "We are very excited for our stockholders, our employees, our customers and our community."

The merger creates one of the largest independent Texas financial services companies, with combined assets of nearly $6 billion. The Company will rank first in deposit market share in affluent Collin County and third in deposit market share among Texas-based independent banks in the Dallas/Fort Worth Metroplex.

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