DALLAS and HOUSTON, May 16, 2022 (GLOBE NEWSWIRE) — Longtime banking veteran Phil Donnelly has joined Veritex Community Bank as the bank’s first executive vice president and general counsel. In addition to leading the bank’s legal team, Donnelly will oversee Veritex Bank’s corporate governance and handle all regulatory matters.
Donnelly brings over 32 years of leadership expertise in the financial services industry. As General Counsel, he has worked in national and international organizations and for public and private institutions. His resume includes senior positions at Starbuck Bancshares, Inc., AmericanWest Bank, Mutual of Omaha Bank, and FINOVA Capital Corporation. He specializes in mergers and acquisitions, corporate governance, commercial finance, complex litigation management, contracts, human resources, compliance and risk management.
As a member of the bank’s leadership team, Donnelly will work hand-in-hand with senior management to develop and execute strategic bank-wide business initiatives and create new procedures and protocols designed to strengthen contracts, compliance and risk management position. As Senior Executive Vice President and General Counsel, he will be the lead counsel for various departments of the bank, including accounting, human resources and risk management, with respect to correspondence with investors, matters relating to employees, commercial insurance and regulatory applications.
He most recently served as general counsel and director of human resources for a publicly traded subsidiary of Berkshire Hathaway and Leucadia National. He was responsible for acquiring nine banks in the western United States, creating a $10 billion financial institution. He has successfully managed and integrated various teams of professionals, including internal and external legal counsel, human resources, marketing personnel and other professionals.
“Phil Donnelly’s reputation largely precedes him; he is a model of excellence in banking,” said Veritex Bank CEO C. Malcolm Holland. “He knows firsthand what it took to build Veritex to where it is today, and he understands how to help bring Veritex to where it needs to be. Adding his skills in compliance, regulatory, mergers and acquisitions and corporate governance will only make the extraordinary team we have in place better.
“I am very excited to join the Veritex Bank team,” said Donnelly. “The banking opportunities beyond $10 billion are exciting, and the regulatory demands placed on the bank will also increase. I look forward to ensuring the bank maintains the steady course it has been set for over the past eleven years,” Donnelly said.
Donnelly has spent most of his professional career in Arizona. He received his undergraduate degree in 1984 and his JD from St. John’s University in Queens, New York in 1987.
About Veritex Bank
Veritex Community Bank is a medium-sized community bank that offers its customers a full range of banking products and services. The bank has over 30 branches in Houston, Fort Worth and Dallas, Texas with total assets of over $10 billion. The bank specializes in providing deposit and credit services to retail businesses and small and medium enterprises, which have been largely neglected by national banks. The name “Veritex” is derived from the Latin word “veritas”, which means truth, and “Texas”.