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
July 20, 1999
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 5. OTHER EVENTS
The news release of FVNB Corp. dated July 20, 1999, attached and filed herewith
as Exhibit 99, is incorporated herein by reference. The release announced that
on July 20, 1999, the Board of Directors of FVNB Corp. had declared a cash
dividend of $.35 per share for shareholders of record on July 29, 1999, payable
on August 12, 1999. The release also includes unaudited financial information
related to the second quarter of 1999.
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 July 20, 1999.
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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: /s/ DAVID M. GADDIS
David M. Gaddis, President
Date: July 20, 1999
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INDEX TO EXHIBIT
EXHIBIT NO. DESCRIPTION PAGE
- ----------- ----------- ------
99 News release of FVNB Corp. 5
dated July 20, 1999.
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EXHIBIT 99
PRESS RELEASE FOR FURTHER C. DEE HARKEY
FOR IMMEDIATE RELEASE INFORMATION: SECRETARY & PRINCIPAL
ACCOUNTING OFFICER
FVNB CORP.
(361) 572-6530
FVNB CORP.
DIVIDEND AND EARNINGS ANNOUNCEMENT
VICTORIA, TEXAS - 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
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