VICTORIA, Texas, Sept. 18 /PRNewswire/ -- The Board of Directors of First
Victoria National Bank is pleased to announce that, effective
September 17, 1998, First Victoria National Bank reorganized into a one bank
holding company, FVNB Corp. (Nasdaq: FVNB). As part of this transaction, each
outstanding share of First Victoria National Bank common stock, par value
$2.50 per share, was converted into, by operation of law, one share of FVNB
Corp. common stock, par value $.01 per share. Shareholders do not need to
take any action at this time. Share certificates which previously represented
shares of common stock of First Victoria National Bank continued to represent
a like number of shares of common stock of FVNB Corp.
The Board of Directors of First Victoria believes that the holding company
structure provides the best organizational vehicle by which it can serve its
shareholders, customers, and communities well into the future. The Board of
Directors is committed to preserving First Victoria's community-oriented
philosophy and independence. By modernizing its organizational structure,
First Victoria is equipping itself to compete in the challenging markets it
will face in the next century.
First Victoria National Bank is a Victoria, Texas based national banking
association with approximately $520 million dollars in total assets. First
Victoria National 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 FVNB Corp.'s filings
with the Securities Exchange Commission.
SOURCE First Victoria National Bank
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Related links:
http://www.fvnb.com
Company News On-Call: http://www.prnewswire.com or
fax, 800-758-5804, ext. 124759
CONTACT:
David Gaddis, President of First Victoria
National Bank, 512-573-6321
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