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
February 1, 2000
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)
(361) 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 January 27, 2000, attached and filed
herewith as Exhibit 99, is incorporated herein by reference. The release
announced that the Board of Directors of FVNB Corp. had approved a definitive
agreement to acquire Mid-Coast Savings Bank, SSB. The definitive agreement was
entered into on January 27, 2000, and is subject to regulatory approval and
approval by the shareholders of Mid Coast Savings. Upon completion of the
transaction, the acquired bank will merge with First Victoria National Bank, a
subsidiary bank of FVNB Corp., and the two Mid-Coast Savings locations in Edna
and Ganado, Texas will operate as branches of First Victoria National Bank
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 January 27, 2000.
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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 & Chief Executive Officer
Date: February 1, 2000
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INDEX TO EXHIBIT
EXHIBIT NO. DESCRIPTION PAGE
99 News release of FVNB Corp. 5
dated January 27, 2000
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EXHIBIT 99
PRESS RELEASE FOR FURTHER C. DEE HARKEY
INFORMATION: SECRETARY & PRINCIPAL
JANUARY 27, 2000 ACCOUNTING OFFICER
FVNB CORP.
FOR IMMEDIATE RELEASE (361) 572-6530
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FVNB CORP. APPROVES DEFINITIVE AGREEMENT TO
ACQUIRE MID-COAST SAVINGS BANK, SSB
VICTORIA, TEXAS - The Board of Directors of FVNB Corp. (NASDAQ: FVNB) approved a
definitive agreement to acquire Mid-Coast Savings Bank, SSB. The definitive
agreement was entered into on January 27, 2000. The transaction is subject to
regulatory approval and is expected to be finalized at the end of the first
quarter 2000. Upon completion of the transaction, the acquired bank will merge
with First Victoria National Bank, a subsidiary bank of FVNB Corp., and the two
Mid-Coast Savings locations in Edna and Ganado will operate as branches of First
Victoria National Bank. Staff members of the acquired bank will be offered the
opportunity to continue employment with First Victoria National Bank.
Established in 1867, First Victoria National Bank is a leading bank in South
Texas with existing financial relationships in the Edna and Ganado area.
According to David M. Gaddis, President and Chief Executive Officer of FVNB
Corp., the acquisition will enable First Victoria National Bank to better serve
its existing customers in Edna and Ganado as well as position the Bank to grow
its market share within Jackson County and the surrounding area. Gaddis added,
"Mid-Coast Savings Bank has an excellent reputation for delivering a high level
of personal service and First Victoria National Bank plans to continue that
tradition. Additionally, First Victoria National Bank will offer trust and
investment management services, check card services, and account access via
telephone and through internet banking."
"I anticipate our customers will experience a smooth transition into First
Victoria National Bank operations," says B. David Rose, Chairman of the Board of
Mid-Coast Savings Bank. "FVNB not only has a multitude of services available,
but also maintains a philosophy of providing quality customer service similar to
our own."
FVNB Corp. is a multi-bank holding company whose principal operating
subsidiaries are First Victoria National Bank with locations in Victoria, Port
Lavaca, and Taft, Texas, and Citizens Bank of Texas N. A., with locations in New
Waverly, The Woodlands, and Huntsville, Texas. As of December 31, 1999, total
consolidated assets of the Company were approximately $655 million and
consolidated equity capital was approximately $60 million.
["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 Exchange
Commission.] Subsidiary Banks, Member FDIC
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