VICTORIA, Texas, Aug. 6 /PRNewswire/ -- The Board of Directors of
FVNB Corp. (Nasdaq: FVNB) announced today that the shareholders approved the
proposal for a going private transaction at the Annual Meeting of Shareholders
of the Company held earlier today. The transaction received favorable votes
of 82.59% of the total shares outstanding, which exceeded the two-thirds vote
required to approve the transaction, and represented in excess of 95% of the
total votes cast for that proposal. It is anticipated that the transaction
will close within the next few days. The Company will send instructions as
soon as possible after the effective date of the merger to shareholders
concerning how they may receive any cash payment to which they may be
entitled. As soon as possible after the closing, the Company will file a Form
15, Certification and Notice of Termination of Registration Under Section
12(g) of the Securities Exchange Act of 1934, with the Securities and Exchange
Commission.
FVNB Corp. is a financial holding company whose principal operating
subsidiaries are First Victoria National Bank, with locations in Victoria,
Port Lavaca, Taft, Edna, and Ganado, Texas, and Citizens Bank of Texas N.A.,
with locations in New Waverly, Huntsville, and The Woodlands, Texas; and
Citizens Insurance Agency of Texas, Inc. As of March 31, 2001, total
consolidated assets of the Company were approximately $750 million.
[Subsidiary Bank, Members FDIC.]
For Further David M. Gaddis
Information: President & CEO
FVNB Corp.
361-572-6500
SOURCE FVNB Corp.
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Related links:
http://www.fvnb.com
Company News On-Call:
http://www.prnewswire.com/comp/124759.html
CONTACT:
David M. Gaddis, President & CEO of FVNB
Corp., +1-361-572-6500
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