VICTORIA, Texas, July 20 /PRNewswire/ -- On July 20, 1999, the Board of
Directors of FVNB Corp. declared a cash dividend of $.35 per share payable on
August 12, 1999, to shareholders of record as of July 29, 1999.
In September 1998, FVNB Corp. was organized as a bank holding company for
First Victoria National Bank (the "Bank"). As a result of the reorganization,
shareholders of the Bank became shareholders of FVNB Corp. Subsequently, in
January 1999, FVNB Corp. completed the acquisition of CBOT Financial
Corporation, the parent company of Citizens Bank of Texas, N.A. and CBOT
Mortgage Company.
FVNB Corp.'s consolidated net income and earnings per share for the first
six months of 1999 were approximately $3,815,000 and $1.61, respectively.
During the first six months of 1998, the Bank's net income and earnings per
share were approximately $2,926,000 and $1.23, respectively.
FVNB Corp.'s consolidated equity capital at June 30, 1999 was
approximately $59.0 million compared to $59.5 million at December 31, 1998.
FVNB Corp.'s equity capital ratio of 8.17% and risk-based capital ratio of
13.58% as of June 30, 1999 remain well in excess of regulatory requirements.
FVNB Corp.'s total consolidated assets were approximately $611 million as of
June 30, 1999 compared to $553 million as of December 31, 1998. FVNB Corp.'s
consolidated deposits totaled approximately $500 million as of June 30, 1999
compared to $455 million as of December 31, 1998.
["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.]
Subsidiary Banks, Member FDIC
Contact: C. Dee Harkey, Secretary & Principal, Accounting Officer of
FVNB Corp., 361-572-6530
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:
C. Dee Harkey, Secretary & Principal,
Accounting Officer of FVNB Corp., 361-572-6530
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