Roadshow begins for Texas bank: Allegiance Bancshares sets terms for $60 million IPO

Allegiance Bancshares, a commercial bank with 16 locations in Houston and $2 billion in assets, announced terms for its IPO on Monday.

The Houston, TX-based company plans to raise $60 million by offering 2.6 million shares at a price range of $22 to $24. At the midpoint of the proposed range, Allegiance Bancshares would command a fully diluted market value of $291 million.

Allegiance Bancshares, which was founded in 2007 and booked $93 million in revenue for the 12 months ended June 30, 2015, plans to list on the Nasdaq under the symbol ABTX. Baird and Stephens are the joint bookrunners on the deal. It is expected to price during the week of October 5, 2015.