<PAGE>
=================================================================
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
May 27, 1996
------------------------------------------------
Date of Report (Date of earliest event reported)
Independent Bankshares, Inc.
------------------------------------------------------
(Exact name of Registrant as specified in its charter)
Texas 0-10196 75-1717279
- ---------------------------- ----------- -------------------
(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
547 Chestnut Street
P. O. Box 3296
Abilene, Texas 79604
- ---------------------------------------- ----------
(Address of principal executive offices) (Zip Code)
(915) 677-5550
----------------------------------------------------
(Registrant's telephone number, including area code)
Not Applicable
-------------------------------------------------------------
(Former name or former address, if changed since last report)
- ------------------------------------------------------------------
<PAGE>
ITEM 5. Other Events
On May 27, 1996, First State Bank, National Association,
Abilene, Texas ("First State, N.A., Abilene"), a wholly owned
subsidiary bank of Independent Bankshares, Inc. (the "Company")
consummated the previously announced acquisition of the San Angelo,
Texas branch of Coastal Banc ssb in a cash transaction. On the
date of acquisition, First State, N.A., Abilene purchased in loans
of $155,000 and certain other assets from, and assumed deposits of
$14,895,000 and certain other liabilities of, Coastal Banc ssb.
The San Angelo branch has become a branch of First State, N.A.
Abilene. The terms of the purchase and assumption transaction were
determined by arms-length negotiations.
No material relationship exists between Coastal Banc ssb and
the Company or any of its affiliates, any directors or officers of
the Company, or any associate of any such director or officer.
ITEM 7. Financial Statements, Pro Forma Financial Information and
Exhibits.
(c) Exhibits
Exhibit No. Document Description
----------- --------------------
2.1 Asset Purchase and Account
Assumption Agreement dated
March 4, 1996, between the
Company and Coastal Banc ssb
(incorporated by reference from
Exhibit 10.4 to the Company's
Annual Report on Form 10-K for
the year ended December 31,
1995)
-1-
<PAGE>
SIGNATURE
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.
INDEPENDENT BANKSHARES, INC.
Date: June 10, 1996 By: /s/ Randal N. Crosswhite
--------------------------
Randal N. Crosswhite,
Senior Vice President
and Chief Financial Officer
-2-
