SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
F O R M 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
------------------------
Date of Report
October 29, 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)
<PAGE>
ITEM 5. OTHER EVENTS
The news release of FVNB Corp. dated October 29, 1998, attached and filed
herewith as Exhibit 99, is incorporated by reference. The release announced that
on October 29, 1998, the Board of Directors of FVNB Corp. had declared a cash
dividend of $.35 per share for shareholders of record on November 9, 1998,
payable on November 23, 1998. The release also includes unaudited financial
information related to the third quarter of 1998.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
c. Exhibits
The following exhibit is filed as part of this report:
(99) News release of FVNB Corp. dated October 29, 1998.
2
<PAGE>
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 29, 1998
3
<PAGE>
INDEX TO EXHIBIT
Exhibit No. Description Page
99 News release of FVNB Corp. 5
dated October 29, 1998.
4
EXHIBIT 99
FVNB CORP.
DIVIDEND AND EARNINGS ANNOUNCEMENT
On October 29, 1998, the Board of Directors of FVNB Corp. declared a cash
dividend of $.35 per share payable on November 23, 1998, to shareholders of
record on November 9, 1998.
FVNB's consolidated net income and earnings per share for the third quarter of
1998 were approximately $1,636,000 and $.69, respectively. For the nine months
ended September 30, 1998, FVNB reported consolidated net income and earnings per
share of approximately $4,562,000 and $1.92, respectively.
As previously announced, FVNB was recently organized as a one-bank holding
company for First Victoria National Bank. As a result of the reorganization,
shareholders of the Bank became shareholders of FVNB. During the third quarter
of 1997, the Bank's net income and earnings per share were approximately
$1,133,000 and $.48, respectively. For the nine months ended September 30, 1997,
the Bank reported net income and earnings per share of approximately $3,809,000
and $1.61, respectively.
FVNB's consolidated equity capital at September 30, 1998 was approximately $59.1
million compared to the Bank's equity capital of $56.1 million at December 31,
1997. FVNB's equity capital ratio of 11.01% and risk-based capital ratio of
19.48% as of September 30, 1998 remain well in excess of regulatory
requirements. FVNB's total consolidated assets were approximately $534 million
as of September 30, 1998 compared to the Bank's assets of $500 million as of
December 31, 1997. FVNB's consolidated deposits totaled approximately $444
million as of September 30, 1998 compared to the Bank's deposits of $416 million
as of December 31, 1997.
First Victoria National Bank is a Victoria, Texas based national banking
association with approximately $534 million dollars in total assets. The 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 the FVNB Corp. filings with the
Securities Exchange Commission.]
[FIRST VICTORIA NATIONAL BANK LOGO]
5
