SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report
October 8, 1998
FVNB CORP.
(Exact name of registrant as specified in its charter)
Commission file number: 333-47939
Texas 74-2871063
(State or other jurisdiction of incorporation (I.R.S. Employer
or organization) Identification No.)
101 S. Main Street
Victoria, Texas 77901
(Address of principal executive offices)
(512) 573-6321
(Registrant's telephone number, including area code)
N/A
(Former name or former address, if changed since last report)
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ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS
On October 8, 1998, FVNB Corp. the holding company of First Victoria
National Bank, approved a definitive agreement to acquire CBOT Financial
Corporation, the parent company of Citizens Bank of Texas, N.A. and CBOT
Mortgage Company. Citizens Bank of Texas operates banking facilities in New
Waverly, Huntsville, and The Woodlands, Texas. As of June 30, 1998, the bank had
approximately $80 million in total assets. The transaction is subject to
approval by regulatory authorities and the shareholders of CBOT Financial
Corporation and is expected to be finalized by year-end 1998 or early in the
first quarter of 1999.
As of June 30, 1998, First Victoria National Bank had approximately $520 million
in total assets. FVNB Corp. is a $520 million bank holding company headquartered
in Victoria with facilities in Victoria, Port Lavaca and Taft, Texas.
In addition, a copy of the press release of FVNB Corp., dated October 8,
1998, is attached hereto as Exhibit 99.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
The following exhibit is filed as part of this report:
99 Press Release of FVNB Corp. dated October 8, 1998.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
FVNB CORP.
(Registrant)
By: DAVID M. GADDIS
David M. Gaddis, President
Date: October 13, 1998
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EXHIBIT INDEX
EXHIBIT PAGE
NUMBER DESCRIPTION NUMBER
99 Press Release of FVNB Corp. 5
dated October 8, 1998
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EXHIBIT 99
PRESS RELEASE FOR FURTHER BEVERLY KAHANEK
TO BE RELEASED INFORMATION: VICE PRESIDENT &
OCTOBER 8, 1998 MARKETING OFFICER
5:00 P.M. CDT FIRST VICTORIA NATIONAL BANK
512/572-6555
FVNB CORP. TO ACQUIRE CBOT
FINANCIAL CORPORATION
VICTORIA, TEXAS - THE BOARD OF DIRECTORS OF FVNB CORP., THE HOLDING COMPANY OF
FIRST VICTORIA NATIONAL BANK, HAS APPROVED A DEFINITIVE AGREEMENT TO ACQUIRE
CBOT FINANCIAL CORPORATION, THE PARENT COMPANY OF CITIZENS BANK OF TEXAS, N.A.
AND CBOT MORTGAGE COMPANY, WHICH DEFINITIVE AGREEMENT WAS ENTERED INTO ON
OCTOBER 8, 1998. FOUNDED IN 1907 IN NEW WAVERLY, CITIZENS BANK OF TEXAS OPERATES
BANKING FACILITIES IN NEW WAVERLY, HUNTSVILLE AND THE WOODLANDS, TEXAS. AS OF
JUNE 30, 1998, THE BANK HAD APPROXIMATELY $80 MILLION IN TOTAL ASSETS. THE
TRANSACTION IS SUBJECT TO APPROVAL BY REGULATORY AUTHORITIES AND THE
SHAREHOLDERS OF CBOT FINANCIAL CORPORATION AND IS EXPECTED TO BE FINALIZED BY
YEAR-END 1998 OR EARLY IN THE FIRST QUARTER OF 1999.
CITIZENS BANK OF TEXAS WILL CONTINUE TO OPERATE AS AN INDEPENDENT SUBSIDIARY OF
FVNB CORP. WITH THE BOARD OF DIRECTORS, OFFICERS AND STAFF BEING RETAINED.
ACCORDING TO DAVID M. GADDIS, PRESIDENT & C.E.O. OF FVNB CORP., "THIS
AFFILIATION WILL ENABLE OUR COMPANY TO GROW BY ENTERING OTHER MARKETS WHILE AT
THE SAME TIME BUILDING ON THE LONGSTANDING HISTORY OF INDEPENDENT TEXAS BANKING
AND RESPONSIVE PERSONAL SERVICE THAT CITIZENS BANK OF TEXAS AND FIRST VICTORIA
NATIONAL BANK ARE BOTH WELL KNOWN FOR." ROGER LAWRENCE, PRESIDENT OF CITIZENS
BANK, STATES, "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."
ESTABLISHED IN 1867, FIRST VICTORIA NATIONAL BANK IS THE SECOND OLDEST
INDEPENDENT BANK IN TEXAS. AT JUNE 30, 1998 THE BANK HAD APPROXIMATELY $520
MILLION IN TOTAL ASSETS. FVNB CORP. IS A $520 MILLION BANK HOLDING COMPANY
HEADQUARTERED IN VICTORIA WITH FACILITIES 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 THE COMPANY, THE OCCURRENCE OF WHICH INVOLVE CERTAIN RISKS AND
UNCERTAINTIES DETAILED IN THE COMPANY'S FILINGS WITH THE SECURITIES AND EXCHANGE
COMMISSION.
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