VICTORIA, Texas, Jan. 29 /PRNewswire/ -- FVNB Corp. (Nasdaq: FVNB) today
announced the completion of the acquisition and merger into FVNB Corp. of CBOT
Financial Corporation, the parent company of Citizens Bank of Texas, N.A. and
CBOT Mortgage Company. According to David M. Gaddis, President and CEO of
FVNB Corp., "The acquisition of Citizens Bank of Texas N.A. and CBOT Mortgage
Company will provide growth to our company and allow us to enter new markets
and continue our long standing tradition of providing independent Texas
banking."
Founded in 1907 in New Waverly, Texas, Citizens Bank of Texas will
continue to operate as an independent subsidiary of FVNB Corp. with its Board
of Directors, officers and staff being retained. Existing banking facilities
in New Waverly, Huntsville and The Woodlands will keep the name Citizens Bank
of Texas, N.A. At December 31, 1998 Citizens Bank of Texas N.A. had
approximately $80 million in total assets. Roger Lawrence, who will continue
as President of Citizens Bank stated "Our new affiliation with FVNB will allow
us to be even more competitive with a larger loan limit, trust services and
other services provided by FVNB."
FVNB Corp. is the parent company of First Victoria National Bank, the
second oldest independent bank in Texas established in 1867. At December 31,
1998 FVNB Corp. had approximately $553 million in total assets. The holding
company has banking facilities in Victoria, Port Lavaca and Taft, Texas.
FVNB Corp. common stock is traded on The Nasdaq Stock Market under the
symbol FVNB.
"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 the Company, the occurrence of which involve certain
risks and uncertainties detailed in the Company's filings with the Securities
and Exchange Commission.
For more information contact: Beverly Kahanek, Vice President & Marketing
Officer of First Victoria National Bank, 512-572-6555.
SOURCE FVNB Corp.
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Related links:
http://www.fvnb.com
Company News On-Call:
http://www.prnewswire.com/comp/124759.html or fax,
800-758-5804, ext. 124759
CONTACT:
Beverly Kahanek, Vice President & Marketing
Officer of First Victoria National Bank, 512-572-6555
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