StoneCastle terminates interLINK sale to Veritex

StoneCastle Partners has terminated an agreement to sell its digital deposit-gathering business to Veritex Holdings in Dallas. 

The $11.3 billion-asset Veritex agreed in March to buy interLINK for $91 million in cash and stock.

Veritex has already received approval from the Texas Department of Banking and was pursuing approval from the Federal Deposit Insurance Corp. 

Veritex said in a regulatory filing that it “believes all the other conditions precedent to closing under the agreement were, or were reasonably be expected to have been, satisfied.” 

While neither party will pay a termination fee, Veritex said it is considering all options tied to the terminated agreement, including willful and material breaches of the by StoneCastle.