About Josh
Josh McNulty is a corporate and regulatory banking attorney. Josh’s practice primarily focuses on regulatory compliance, mergers and acquisitions, and securities law matters for financial institutions. He counsels state and national banks, holding companies and other financial institutions on state and federal regulatory compliance issues, including all aspects of regulatory matters involving the FDIC, the Federal Reserve, the OCC, the TDB, and the CFPB.
Josh also advises financial institutions, corporate clients and boards of directors on corporate governance, stockholder matters, shareholder agreements, fiduciary obligations, and other corporate activities, such as holding company formations, and a broad range of public and private capital market transactions, including IPOs and private placements.
Experience
Recent Notable Matters
Prosperity Bancshares, Inc. — $2.1 billion proposed acquisition of LegacyTexas Financial Group, Inc., which is the second largest bank merger in the history of Texas
Underwriters of Bank7 Corp — $65 million initial public offering of common stock
Upper Bay Infrastructure Partners — acquisition of Tidewater Transportation & Terminals, a multi-commodity transportation, terminal, and marine construction and repair company serving the Pacific Northwest, from Stonepeak Infrastructure Partners. Upper Bay Infrastructure Partners was the lead investor of a group consisting of Ullico, funds and accounts under management by BlackRock, Silverfern and certain other co-investors.
Woodforest National Bank — sale of its asset-based and equipment finance lending businesses, including the $495 million loan portfolio, to Sterling National Bank
Allegiance Bancshares, Inc. — $359 million acquisition of Post Oak Bancshares, Inc.
Allegiance Bancshares Inc. — $40 million offering in fixed-to-floating rate subordinated notes due 2027
Underwriters Counsel for Spirit of Texas Bancshares, Inc. — $48.3 million initial public offering of common stock
Privately held bank holding company based in Texas — $19.5 million private placement of common and preferred stock
Privately held bank holding company based in Texas and California — $19 million private placement of series A voting common stock
Underwriter's counsel for Green Bancorp, Inc. — $70 million initial public offering of common stock
Veritex Holdings, Inc. — acquisition of Sovereign Bancshares, Inc. and its wholly-owned subsidiary, Sovereign Bank*
Investor Group — (i) private placement of $42.6 million of common stock, (ii) acquisition of The Oakwood State Bank, and (iii) relocation of the main office to Dallas, Texas*
Nasdaq-listed bank holding company — $27 million acquisition of a privately held community bank*
Nasdaq-listed bank holding company — $82 million acquisition of privately held community bank*
Phillips 66 — $1.5 billion senior notes public offering consisting of $500 million of floating rate senior notes due 2021, $800 million of 3.900% senior notes due 2028 and $200 million of 4.875% senior notes due 2044
Veritex Holdings, Inc. — $40.4 million initial public offering of common stock
Allegiance Bancshares Inc. — the holding company of Allegiance Bank, a Texas state bank headquartered in Houston, Texas, in its initial public offering, which was the Houston Business Journal’s 2015 Banking & Finance Deal of the Year
Prosperity Bancshares, Inc. — the holding company of Prosperity Bank, a Texas state bank headquartered in Houston, Texas, in its acquisition of Tradition Bancshares, Inc. and its wholly owned subsidiary, Tradition Bank, for cash and stock consideration valued at $77 million; transaction was a Houston Business Journal 2015 Deal of the Year finalist
CommunityBank of Texas, N.A. — its holding company, in the holding company’s acquisition of MC Bancshares, Inc. and its wholly owned subsidiary, Memorial City Bank
Allegiance Bancshares Inc. — (i) acquisition of Farmers & Merchants Bancshares, Inc. and its wholly owned subsidiary, Enterprise Bank, and (ii) acquisition of Independence Bank, N.A.
Sandler O'Neill & Partners, LP — initial public offering of Green Bancorp, Inc., the holding company of Green Bank, N.A., a national bank headquartered in Houston, Texas
Investor Group — acquisition of T Bancshares, Inc. and its wholly-owned subsidiary T Bank, N.A.*
BancorpSouth, Inc — the holding company of BancorpSouth Bank, a Mississippi state bank headquartered in Tupelo, Mississippi, in separate acquisitions of (i) Central Community Corporation, the holding company of First State Bank Central Texas, a Texas state bank headquartered in Central Texas, for cash and stock consideration valued at $210 million; and (ii) Ouachita Bancshares Corp., the holding company of Ouachita Independent Bank, a Louisiana state bank headquartered in Monroe, Louisiana, for cash and stock consideration valued at $114 million
BOH Holdings, Inc. — the holding company of Bank of Houston, a Texas state bank headquartered in Houston, Texas, in its sale to Independent Bank Group for cash and stock consideration valued at $243 million; transaction was the Houston Business Journal’s 2014 finance deal of the year
Publications and Speeches
“The Proactive Approach to Managing Shareholder Relations” Bank Director, July 13, 2016.
"Basel III: Impact On Community Banks," BankNews, January 14, 2014.