VICTORIA, Texas, April 26 /PRNewswire/ -- On April 21, 1998, the Board of
Directors of First Victoria National Bank (Nasdaq: FVNB) declared a cash
dividend of $.35 per share for shareholders of record as of April 30, 1998,
payable on May 14, 1998. This represents an increase of $.10 per share, or
40.0%, over the regular cash dividend declared and paid for the fourth quarter
of 1997.
Net income for the first quarter of 1998 was approximately $1.5 million
compared to approximately $1.4 million for the same period in 1997. Earnings
per share were $.62 for the first quarter of 1998 compared to $.59 for the
first quarter of 1997.
The Bank's equity capital at March 31, 1998 was approximately
$56.9 million, compared to $56.1 million at December 31, 1997. The Bank's
equity capital ratio of 10.89% and risk-based capital ratio of 20.21% as of
March 31, 1998 remain well in excess of regulatory requirements. At
March 31, 1998, total assets were approximately $514 million, while deposits
totaled approximately $431 million. The Bank's allowance for loan and lease
losses at March 31, 1998 continues to remain strong with reserves at
approximately $2,885,000 or 1.04% of total loans and leases.
SOURCE First Victoria National Bank
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CONTACT:
Tisha Darilek of First Victoria National
Bank, 512-574-8438
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