U. S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-QSB
QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF
THE SECURITIES AND EXCHANGE ACT OF 1934
For Quarter Ended Commission File Number
September 30, 1995 0-12979
Bank of Gonzales Holding Company, Inc.
(Exact name of small business issuer as specified in its charter)
Louisiana 72-0967503
(State or other jurisdiction (I.R.S. Employer Identification
of incorporation or Number)
organization)
P. O. Box 1089, Gonzales, Louisiana 70707-1089
(Address of principal executive offices)
Issuer's telephone number, including area code 504 / 621 - 7200
Check whether the issuer (1) filed all reports required
to be filed by Section 13 or 15(d) of the Exchange Act
during the past 12 months, and (2) has been subject to
such filing requirements for the past 90 days.
Yes ( X ) No ( )
State the number of shares outstanding of each of the issuer's
classes of common equity, as of the latest practicable date:
Number of
Class of Common Stock Shares Outstanding As of
Common, No Par Value 541,611 October 10, 1995
BANK OF GONZALES HOLDING COMPANY, INC.
INDEX
PART I--FINANCIAL INFORMATION
Consolidated Balance Sheets - September 30, 1995
and December 31, 1994
Consolidated Statements of Income - Nine and Three
Months Ended September 30, 1995 and 1994
Consolidated Statements of Cash Flows - Nine Months
Ended September 30, 1995 and 1994
Notes to Consolidated Financial Statements
Management's Discussion and Analysis of Financial
Condition and Results of Operations
PART II--OTHER INFORMATION
Item 1 Legal Proceedings
Item 6 Exhibits and Reports on Form 8-K
BANK OF GONZALES HOLDING COMPANY, INC. AND SUBSIDIARY
CONSOLIDATED BALANCE SHEETS
(Unaudited) December 31,
September 30, 1995 1994
(In thousands of dollars)
ASSETS
Cash and due from banks $ 4,560 $ 4,957
Federal funds sold 516 627
Cash and cash equivalents 5,076 5,584
Interest-bearing deposits in
other banks 300 -
Investment securities available-
for-sale (at fair value) 40,723 33,275
Investment securities held-to-
maturity (approximate fair
values of $14,122 at Septem-
ber 30, 1995 and $12,808 at
December 31, 1994) 14,312 13,728
Investment securities 55,035 47,003
Loans 59,968 60,425
Unearned income (765) (755)
Allowance for possible loan
losses (1,457) (1,525)
Net loans 57,746 58,145
Bank premises and equipment, net 2,288 2,360
Other real estate 333 572
Accrued interest receivable 894 759
Deferred tax asset 1,139 2,811
Other assets 362 335
Total assets $123,173 $117,569
LIABILITIES
Deposits:
Noninterest-bearing demand $ 20,321 $ 20,438
Interest-bearing demand, NOW's
and MMDA's 19,045 19,186
Savings 20,258 20,589
Certificates and other time
deposits $100,000 and more 7,082 5,716
Other time deposits 38,458 36,598
Total deposits 105,164 102,527
Advance from Federal Home Loan Bank 3,299 3,410
Federal funds purchased 1,100 -
Accrued interest payable 241 162
Other liabilities 595 428
Total liabilities 110,399 106,527
SHAREHOLDERS' EQUITY
Common stock, no par value -
10,000,000 shares authorized,
561,801 shares issued and out-
standing at September 30, 1995
and December 31, 1994 13,227 13,227
Retained earnings (deficit) (55) (292)
Treasury stock, at cost - 20,190
shares at September 30, 1995 and
December 31, 1994 (485) (485)
Unrealized gain (loss) on investment
securities available-for-sale,
net of deferred income taxes 87 (1,408)
Total shareholders' equity 12,774 11,042
Total liabilities and share-
holders' equity $123,173 $117,569
BANK OF GONZALES HOLDING COMPANY, INC. AND SUBSIDIARY
CONSOLIDATED STATEMENTS OF INCOME - (Unaudited)
Nine Months Ended Three Months Ended
September 30, September 30,
1995 1994 1995 1994
(In thousands of dollars, except per
share data)
Interest income:
Loans, including fees $ 4,834 $ 4,551 $ 1,630 $ 1,539
Investment securities
Taxable 2,521 2,034 869 698
Tax-exempt 19 15 9 5
Federal funds sold 62 20 25 8
Other 18 2 7 1
TOTAL INTEREST INCOME 7,454 6,622 2,540 2,251
Interest expense
Deposits 2,258 1,667 779 567
Other borrowings 170 142 57 65
TOTAL INTEREST EXPENSE 2,428 1,809 836 632
NET INTEREST INCOME 5,026 4,813 1,704 1,619
Provision for possible
loan losses 60 (250) 20 (250)
NET INTEREST INCOME AFTER
PROVISION FOR POSSIBLE
LOAN LOSSES 4,966 5,063 1,684 1,869
Other income
Service charges on
deposit accounts 854 822 286 274
Other service charges
and fees 37 61 13 17
Investment securities
(gains) losses (90) 61 - (15)
Net income (cost) from
operation of other
real estate 64 137 57 (4)
Other 102 108 40 34
TOTAL OTHER INCOME 967 1,189 396 306
Other expense
Salaries and employee
benefits 1,490 1,511 498 537
Net occupancy expense 221 276 73 103
Equipment expense 254 310 84 103
Other 1,122 1,087 372 320
TOTAL OTHER EXPENSE 3,087 3,184 1,027 1,063
Income before income
taxes 2,846 3,068 1,053 1,112
Income tax expense 957 1,054 349 361
NET INCOME $ 1,889 $ 2,014 $ 704 $ 751
Net income per common
share--based on
weighted average
number of shares
outstanding $ 3.49 $ 3.73 $ 1.30 $ 1.39
Weighted average shares
outstanding 541,611 540,242 541,611 541,611
BANK OF GONZALES HOLDING COMPANY, INC. AND SUBSIDIARY
CONSOLIDATED STATEMENTS OF CASH FLOWS - (Unaudited)
Nine Months Ended September 30,
1995 1994
(In thousands of dollars)
Cash flows from operating activities:
Net income $ 1,889 $ 2,014
Adjustments to reconcile net income
to net cash provided by operating
activities -
Deferred tax expense 901 1,013
Provision for possible loan
losses 60 (250)
Provision for real estate losses (40) (100)
Depreciation and amortization 179 222
Net amortization (accretion) of
investment securities (14) 167
(Gain) loss on sales of invest-
ment securities 90 (61)
(Gain) on sales of other real
estate (18) (31)
Loss on sales of fixed assets - 3
(Increase) in interest receivable (135) (99)
(Increase) in other assets (43) (98)
Increase (decrease) in interest
payable 79 (4)
Increase in other liabilities 167 372
Net cash provided by operating
activities 3,115 3,148
Cash flows from investing activities:
Purchase of interest-bearing
deposits (300) -
Proceeds from sales of investment
securities 11,300 15,559
Proceeds from maturities of invest-
ment securities 1,812 4,121
Purchase of investment securities (18,954) (23,683)
Proceeds from sales of other real
estate 348 310
(Increase) decrease in loans 288 (599)
Purchase of premises and equipment (91) (93)
Net cash (used) by investing
activities (5,597) (4,385)
Cash flows from financing activities:
Increase in deposits 2,637 1,052
Increase in federal funds purchased 1,100 525
Sales of treasury stock - 7
Dividends paid (1,652) (1,651)
Increase (decrease) in other bor-
rowed funds (111) 3,446
Net cash provided by financing
activities 1,974 3,379
Net increase (decrease) in cash and
cash equivalents (508) 2,142
Cash and cash equivalents, begin-
ning of year 5,584 2,834
Cash and cash equivalents, end of
quarter $ 5,076 $ 4,976
Cash paid for income taxes $ 53 $ 28
Cash paid for interest expense $ 2,439 $ 1,814
Other real estate acquired in
satisfaction of loans $ 51 $ 88
BANK OF GONZALES HOLDING COMPANY, INC. AND SUBSIDIARY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Unaudited)
(1) The interim financial statements are prepared pursuant to
the requirements for reporting on Form 10-QSB. The Decem-
ber 31, 1994 balance sheet data was derived from audited
financial statements but does not include all disclosures
required by generally accepted accounting principles. The
interim financial statements and notes thereto should be
read in conjunction with the financial statements and notes
included in the Company's latest annual report on Form
10-KSB. In the opinion of management, the interim financial
statements reflect all adjustments of a normal recurring
nature necessary for a fair statement of the results for
interim periods. The current period results of operations
are not necessarily indicative of results which ultimately
will be reported for the full year ended December 31, 1995.
MANAGEMENT'S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS
For a comprehensive review of financial condition and results of
operations of Bank of Gonzales Holding Company, Inc. (the Com-
pany), this discussion and analysis should be reviewed along with
the information and financial statements presented elsewhere in
this report. The Company is a one-bank holding company whose
sole subsidiary is Bank of Gonzales (the Bank).
FINANCIAL CONDITION
The Company's total assets increased during the first nine months
of 1995 from $117,569,000 to $123,173,000, a $5,604,000 or 4.8%
increase. This increase consisted primarily of an increase in
investment securities of $8,032,000, and a decrease in the
deferred tax asset of $1,672,000. Funding for the growth in
total assets came mainly from deposits, which were $102,527,000
at year-end 1994 and $105,164,000 at September 30, 1995, a
$2,637,000 or 2.6% increase, and from federal funds purchased at
September 30, 1995 which totaled $1,100,000. In addition, an
increase in the value of the available-for-sale investment
securities, net of the deferred income tax effect, added to total
assets during the first nine months of 1995 by $1,495,000.
Investment securities were $55,035,000 at September 30, 1995 and
included $40,723,000 which were available-for-sale, as defined in
FASB 115, and $14,312,000 which were held-to-maturity. At Decem-
ber 31, 1994, securities available-for-sale and held-to-maturity
totaled $33,275,000 and $13,728,000, respectively. Under FASB
115, available-for-sale securities are required to be adjusted
and carried at their fair values, with a corresponding increase
or decrease recorded as an unrealized gain or loss in sharehold-
ers' equity, net of any income tax effects. At December 31,
1994, the total unrealized loss on available-for-sale securities
was $2,134,000 before any income tax effects. After netting
deferred income taxes of $726,000 against this unrealized loss, a
$1,408,000 net unrealized loss was recorded in shareholders'
equity. During the first nine months of 1995, as many securities
in the available-for-sale portfolio grew closer to their maturity
dates and as interest rates dropped slightly, the value of the
available-for-sale securities increased by $2,266,000, and
reflected an unrealized gain at September 30, 1995 of $132,000.
After netting a deferred income tax payable of $45,000 against
this figure, an $87,000 net unrealized gain was recorded in
shareholders' equity.
Investment securities which are considered as held-to-maturity
are carried at their amortized costs and were $14,312,000 and
$13,728,000 at September 30, 1995 and December 31, 1994,
respectively. The fair values of held-to-maturity securities
were $14,122,000 at September 30, 1995, a $190,000 unrealized
loss, and $12,808,000 at December 31, 1994, a $920,000 unrealized
loss. The values of these securities also increased considerably
as a result of aging and the slight decline in interest rates.
The deferred tax asset was $2,811,000 at December 31, 1994 and
$1,139,000 at September 30, 1995. This decrease of $1,672,000
consisted of a $901,000 deferred income tax expense for the nine
months ended September 30, 1995, and a decrease in that portion
of the deferred tax asset applicable to the aforementioned
unrealized loss on available-for-sale securities. The deferred
tax effect of this unrealized depreciation/appreciation resulted
in a $726,000 asset at year-end 1994 and a $45,000 liability at
September 30, 1995, a $771,000 decrease.
The increase in deposits of $2,637,000 consisted of an increase
in time deposits of $3,226,000, a 7.6% increase, and a decrease
in demand, savings, NOW's and MMDA's of $589,000, or 1.0%.
The Company's primary use of funds is for loan demand. Loans
outstanding at September 30, 1995 and December 31, 1994, net of
unearned income, were $59,203,000 and $59,670,000, respectively,
a decrease of $467,000 or 0.8%. Management expects loans to
increase due to the continued strong economic environment, the
Bank's aggressive marketing strategies, and the recent decline in
interest rates.
Nonaccrual loans, which are loans on which interest recognition
has been suspended until received because of doubts as to the
borrowers' ability to repay principal or interest, were $189,000
at September 30, 1995 and $123,000 at December 31, 1994. Loans
which were past due 90 days or more and still accruing interest
were $68,000 and $23,000 at September 30, 1995 and December 31,
1994, respectively. Problem loans are loans for which payments
are presently current, but the borrowers are experiencing finan-
cial difficulties. Loans classified as problem loans totaled
$2.0 million and $1.9 million at September 30, 1995 and Decem-
ber 31, 1994, respectively. No related parties had any non-
accrual, past due, or problem loans at September 30, 1995 and
December 31, 1994.
The allowance for possible loan losses was $1,457,000 at Septem-
ber 30, 1995 and $1,525,000 at December 31, 1994. This $68,000
decrease is the result of a $60,000 addition to the allowance for
the first nine months of 1995 and net loan charge-offs of
$128,000. Management believes that the allowance for possible
loan losses as of September 30, 1995 is adequate.
Shareholders' equity increased by $1,732,000 during the first
nine months of 1995 from $11,042,000 at year-end 1994 to
$12,774,000 at September 30, 1995. This increase was the result
of a decrease in the net unrealized loss on investment securities
available-for-sale, as discussed above, of $1,495,000, plus a
decrease of $237,000 in the retained earnings deficit. The
retained earnings deficit at year-end 1994 of $292,000 decreased
to $55,000 at September 30, 1995 through net income of $1,889,000
and dividends declared of $1,652,000.
RESULTS OF OPERATIONS
Net income for the first nine months of 1995 was $1,889,000 or
$3.49 per average share outstanding. Net income for the first
nine months of 1994 was $2,014,000 or $3.73 per average share
outstanding. This $125,000 decrease in 1995 as compared to 1994
is due to changes in several areas as follows:
Net interest income is the Company's principal source of revenue
and is measured by the difference between interest income earned
on loans and investments and interest expense incurred on
deposits and other borrowings. The Company's net interest income
for the first nine months of 1995 increased by $213,000 as com-
pared to the same period in 1994. With careful monitoring of
interest-earning assets and interest-bearing liabilities through
its asset/liability management program, management is able to
adjust for any changes in interest rates in order to maximize
profits during periods of favorable (i.e. anticipated) movements
in rates, and minimize adverse effects during periods of
unfavorable (i.e. unanticipated) movements in rates.
The provision for possible loan losses replenishes the allowance
for possible loan losses to a level that is considered adequate
by management to absorb potential losses. The adequacy of the
allowance is determined through an evaluation of the loan port-
folio, loan loss experience, and economic conditions. The pro-
vision for the nine months ended September 30, 1995 was $60,000.
In 1994, management determined that the allowance was overstated
and, as a result, reduced the allowance by $250,000 with a cor-
responding credit to operations.
Total other income was $967,000 and $1,189,000 for the nine
months ended September 30, 1995 and 1994, respectively, a
$222,000 decrease. This decrease is due to two items: (1)
investment securities that were sold in 1995 resulted in losses
of $90,000, while securities that were sold in 1994 resulted in
gains of $61,000, and (2) the operation of the Bank's other real
estate properties resulted in net income of $64,000 during the
first nine months of 1995, as compared to net income during the
same period in 1994 of $137,000. The largest component of the
net income from operation of other real estate was a reduction of
$40,000 in 1995 and $100,000 in 1994 of the allowance for losses
on other real estate that was credited to operations.
Total other expense was $3,087,000 and $3,184,000 for the nine
months ended September 30, 1995 and 1994, respectively, a $97,000
decrease. Net occupancy and equipment expenses decreased by
$111,000 from $586,000 during the first nine months of 1994 to
$475,000 during the same period in 1995. This decrease is attri-
butable primarily to a $31,000 decrease in depreciation expense,
a $29,000 decrease in repairs and maintenance, a $13,000 decrease
in utilities, and a $30,000 decrease in personal property taxes.
Income tax expense for the nine months ended September 30, 1995
and 1994 was $957,000 and $1,054,000, respectively, a decrease of
$97,000. The deferred expense portion of income tax expense was
$901,000 in 1995 and $1,013,000 in 1994. The current expense
portion of $56,000 in 1995 and $41,000 in 1994 represents an
estimate of the alternative minimum tax to be paid with the fil-
ing of the Federal income tax returns.
PART II--OTHER INFORMATION
Item 1. Legal Proceedings
Legal proceedings involving the Bank are limited to
proceedings arising from normal business activities,
none of which are considered material.
Item 6. Exhibits and Reports on Form 8-K
(a) Part II Exhibits:
(1) Exhibit (10), Material Contracts - Employment
Contracts of Senior Officers
(2) Exhibit (27), Financial Data Schedule
(b) The Company has not filed any reports on Form 8-K
during the quarter ended September 30, 1995.
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 thereunto duly authorized.
BANK OF GONZALES HOLDING COMPANY, INC.
s/D. Dale Gaudet
D. Dale Gaudet, President
s/Rachel P. Cherco
Rachel P. Cherco, Controller
AMENDMENT NO. 2
to
CONTINGENT SEVERANCE AGREEMENT
AMENDMENT NO. 2, dated effective as of October _____, 1995,
to the Contingent Severance Agreement (the "Agreement"), dated as
of October 19, 1992, by and between the Bank of Gonzales, a
Louisiana bank (the "Bank"), and Rachel P. Cherco (the
"Executive").
WHEREAS, the Bank and Executive entered into the Agreement,
as amended by Amendment No. 1 dated effective as of January 20,
1995, and desire to amend certain terms and conditions of the
Agreement as provided herein;
NOW, THEREFORE, in consideration of the covenants and
agreements contained herein, the parties agree as follows:
A. Section 2 of the Agreement is hereby amended and
restated in its entirety to read as follows:
2. Term. This Agreement shall terminate on the
earlier of (i) February 1, 1998 or (ii) the date that
the Executive ceases to be an employee of the Bank at
any time prior to an Announcement Date.
B. Except as specifically amended by this Amendment, each
provision of the Agreement shall remain in full force and effect.
C. All capitalized terms used herein but not defined
herein shall have the meanings ascribed to them in the Agreement.
D. This Amendment may be executed by the parties in one or
more counterparts, each of which shall be deemed an original, but
all of which taken together shall constitute one and the same
instrument.
IN WITNESS WHEREOF, the parties hereto have duly executed
this Amendment effective as of the day and year first above
written.
BANK OF GONZALES
By:
Name:
Title:
Rachel P. Cherco
AMENDMENT NO. 2
to
AMENDED AND RESTATED
EMPLOYMENT AGREEMENT
AMENDMENT NO. 2, dated effective as of September _____,
1995, to the Amended and Restated Employment Agreement (the
"Employment Agreement"), dated as of September 13, 1993, by and
between the Bank of Gonzales, a Louisiana bank (the "Bank"), and
Mr. D. Dale Gaudet (the "Executive").
WHEREAS, the Bank and Executive entered into the Employment
Agreement, as amended by Amendment No. 1 dated effective as of
January 20, 1995, and desire to amend certain terms and
conditions of the Employment Agreement as provided herein;
NOW, THEREFORE, in consideration of the covenants and
agreements contained herein, the parties agree as follows:
A. Paragraph 2 of the Employment Agreement is hereby
amended and restated in its entirety to read as follows:
2. TERM
The employment of Executive by the Bank as
provided in Section 1 will commence on the date hereof
and end on December 31, 1998, unless sooner terminated
as hereinafter provided or further extended by a
written amendment to this Agreement, executed by the
Executive and an officer of the Bank authorized by the
Board.
B. Except as specifically amended by this Amendment, each
provision of the Employment Agreement shall remain in full force
and effect.
C. All capitalized terms used herein but not defined
herein shall have the meanings ascribed to them in the Employment
Agreement.
D. This Amendment may be executed by the parties in one or
more counterparts, each of which shall be deemed an original, but
all of which taken together shall constitute one and the same
instrument.
IN WITNESS WHEREOF, the parties hereto have duly executed
this Amendment effective as of the day and year first above
written.
BANK OF GONZALES
By:
Name:
Title:
D. Dale Gaudet
COR\26082.2
AMENDMENT NO. 2
to
CONTINGENT SEVERANCE AGREEMENT
AMENDMENT NO. 2, dated effective as of October _____, 1995,
to the Contingent Severance Agreement (the "Agreement"), dated as
of October 19, 1992, by and between the Bank of Gonzales, a
Louisiana bank (the "Bank"), and James H. May, Jr. (the
"Executive").
WHEREAS, the Bank and Executive entered into the Agreement,
as amended by Amendment No. 1 dated effective as of January 20,
1995, and desire to amend certain terms and conditions of the
Agreement as provided herein;
NOW, THEREFORE, in consideration of the covenants and
agreements contained herein, the parties agree as follows:
A. Section 2 of the Agreement is hereby amended and
restated in its entirety to read as follows:
2. Term. This Agreement shall terminate on the
earlier of (i) February 1, 1998 or (ii) the date that
the Executive ceases to be an employee of the Bank at
any time prior to an Announcement Date.
B. Except as specifically amended by this Amendment, each
provision of the Agreement shall remain in full force and effect.
C. All capitalized terms used herein but not defined
herein shall have the meanings ascribed to them in the Agreement.
D. This Amendment may be executed by the parties in one or
more counterparts, each of which shall be deemed an original, but
all of which taken together shall constitute one and the same
instrument.
IN WITNESS WHEREOF, the parties hereto have duly executed
this Amendment effective as of the day and year first above
written.
BANK OF GONZALES
By:
Name:
Title:
James H. May, Jr.
AMENDMENT NO. 2
to
CONTINGENT SEVERANCE AGREEMENT
AMENDMENT NO. 2, dated effective as of October _____, 1995,
to the Contingent Severance Agreement (the "Agreement"), dated as
of October 19, 1992, by and between the Bank of Gonzales, a
Louisiana bank (the "Bank"), and Ida N. Reine (the "Executive").
WHEREAS, the Bank and Executive entered into the Agreement,
as amended by Amendment No. 1 dated effective as of January 20,
1995, and desire to amend certain terms and conditions of the
Agreement as provided herein;
NOW, THEREFORE, in consideration of the covenants and
agreements contained herein, the parties agree as follows:
A. Section 2 of the Agreement is hereby amended and
restated in its entirety to read as follows:
2. Term. This Agreement shall terminate on the
earlier of (i) February 1, 1998 or (ii) the date that
the Executive ceases to be an employee of the Bank at
any time prior to an Announcement Date.
B. Except as specifically amended by this Amendment, each
provision of the Agreement shall remain in full force and effect.
C. All capitalized terms used herein but not defined
herein shall have the meanings ascribed to them in the Agreement.
D. This Amendment may be executed by the parties in one or
more counterparts, each of which shall be deemed an original, but
all of which taken together shall constitute one and the same
instrument.
IN WITNESS WHEREOF, the parties hereto have duly executed
this Amendment effective as of the day and year first above
written.
BANK OF GONZALES
By:
Name:
Title:
Ida N. Reine
AMENDMENT NO. 2
to
CONTINGENT SEVERANCE AGREEMENT
AMENDMENT NO. 2, dated effective as of October _____, 1995,
to the Contingent Severance Agreement (the "Agreement"), dated as
of October 19, 1992, by and between the Bank of Gonzales, a
Louisiana bank (the "Bank"), and David M. Warrington (the
"Executive").
WHEREAS, the Bank and Executive entered into the Agreement,
as amended by Amendment No. 1 dated effective as of January 20,
1995, and desire to amend certain terms and conditions of the
Agreement as provided herein;
NOW, THEREFORE, in consideration of the covenants and
agreements contained herein, the parties agree as follows:
A. Section 2 of the Agreement is hereby amended and
restated in its entirety to read as follows:
2. Term. This Agreement shall terminate on the
earlier of (i) February 1, 1998 or (ii) the date that
the Executive ceases to be an employee of the Bank at
any time prior to an Announcement Date.
B. Except as specifically amended by this Amendment, each
provision of the Agreement shall remain in full force and effect.
C. All capitalized terms used herein but not defined
herein shall have the meanings ascribed to them in the Agreement.
D. This Amendment may be executed by the parties in one or
more counterparts, each of which shall be deemed an original, but
all of which taken together shall constitute one and the same
instrument.
IN WITNESS WHEREOF, the parties hereto have duly executed
this Amendment effective as of the day and year first above
written.
BANK OF GONZALES
By:
Name:
Title:
David M. Warrington
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