The parent company of Veritex Community Bank will acquire a 49% stake in Texas-based mortgage lender Thrive Mortgage, the firms announced late Tuesday afternoon.

Veritex Holdings, which has a long history of making acquisitions, will pay $53.9 million for its piece of Thrive, valuing the Georgetown, Texas-headquartered company at roughly $110 million.

The investment is expected to close in the middle of 2021.

Family-owned Thrive has retail operations in Texas, Ohio, Colorado, Kentucky, North Carolina, Kansas, Virginia, Florida, Maryland and Indiana.

“We are proud to further our relationship with a valued business partner details ⇒

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