VICTORIA, Texas, Jan. 24 /PRNewswire/ -- On January 19, 1999, the Board of
Directors of FVNB Corp. (Nasdaq: FVNB) declared a cash dividend of $.35 per
share payable on February 11, 1999, to shareholders of record on January 28,
1999.
FVNB Corp.'s consolidated net income and earnings per share for the fourth
quarter of 1998 were approximately $1,510,000 and $.64, respectively. For the
year ended December 31, 1998, FVNB Corp. reported consolidated net income and
earnings per share of approximately $6,072,000 and $2.56, respectively.
In September 1998, FVNB Corp. was organized as a one-bank holding company
for First Victoria National Bank. As a result of the reorganization,
shareholders of the Bank became shareholders of FVNB Corp. During the fourth
quarter of 1997, the Bank's net income and earnings per share were
approximately $1,182,000 and $.50, respectively. For the year ended
December 31, 1997, the Bank reported net income and earnings per share of
approximately $4,991,000 and $2.10, respectively.
FVNB Corp.'s consolidated equity capital at December 31, 1998 was
approximately $58.3 million compared to the Bank's equity capital of
$56.1 million at December 31, 1997. FVNB Corp.'s equity capital ratio of
10.78% and risk-based capital ratio of 18.18% as of December 31, 1998 remain
well in excess of regulatory requirements. FVNB Corp.'s total consolidated
assets were approximately $553 million as of December 31, 1998 compared to the
Bank's assets of $500 million as of December 31, 1997. FVNB Corp.'s
consolidated deposits totaled approximately $455 million as of
December 31, 1998 compared to the Bank's deposits of approximately
$416 million as of December 31, 1997.
First Victoria National Bank is a Victoria, Texas based national banking
association with approximately $553 million dollars in total assets. The Bank
has branches in Victoria, Port Lavaca and Taft, Texas.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act
of 1995: The statements contained in this release which are not historical
facts contain forward looking information with respect to plans, projections
or future performance of FVNB Corp. and its subsidiaries, the occurrence of
which involve certain risks and uncertainties detailed in the FVNB Corp.
filings with the Securities Exchange Commission.
For further information: Tisha Darilek, Marketing Assistant of First
Victoria National Bank, 512-574-8438.
SOURCE FVNB Corp.
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http://www.fvnb.com
Company News On-Call:
http://www.prnewswire.com/comp/124759.html or fax,
800-758-5804, ext. 124759
CONTACT:
Tisha Darilek, Marketing Assistant of First
Victoria National Bank, 512-574-8438
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