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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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SCHEDULE 13E-3
Rule 13e-3 Transaction Statement
(Pursuant to Section 13(e) of the Securities Exchange Act of 1934)
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HENDERSON CITIZENS BANCSHARES, INC.
(Name of issuer)
HENDERSON CITIZENS BANCSHARES, INC.
(Name of person(s) filing statement)
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Common Stock, par value, $5.00 per share
(Title of class of securities)
Not Applicable
(CUSIP number of class of securities)
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MILTON S. MCGEE, JR.
President
Henderson Citizens Bancshares, Inc.
201 West Main Street, P.O. Box 1009
Henderson, TX 75653
(903) 657-8521
(Name, address and telephone number of person authorized to receive notices
and communications on behalf of the person(s) filing statement)
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Copy To:
BRIAN R. MAREK
Jenkens & Gilchrist, a Professional Corporation
Suite 3200
1445 Ross Avenue
Dallas, Texas 75202
(214) 855-4500
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This Statement is filed in connection with (check the appropriate box):
/ / (a) The filing of solicitation materials or an information statement
subject to Regulation 14A, Regulation 14C, or Rule 13e-3(c) under
the Securities Exchange Act of 1934.
/ / (b) The filing of a registration statement under the Securities Act
of 1933.
/x/ (c) A tender offer.
/ / (d) None of the above.
Check the following box if the soliciting materials or information
statement referred to in checking box (a) are preliminary copies: / /
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CALCULATION OF FILING FEE
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TRANSACTION VALUATION AMOUNT OF FILING FEE
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$2,030,000.00 (1) $0.00 (2)
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(1) The filing fee comprises one-fiftieth of one percent of the aggregate
transaction value of $2,030,000.00. This amount is based upon the
purchase of 140,000 shares at the maximum tender offer price per share
of $14.50.
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(2) The entire filing fee of $406.00 is offset by the filing fee paid by
the Company in connection with its Schedule 13E-4 filed with the
Commission on October 15, 1997.
/x/ Check box if any part of the fee is offset as provided by Rule 0-11(a)(2)
and identify the filing with which the offsetting fee was previously paid.
Identify the previous filing by registration statement number, or the form
or schedule and the date of its filing.
Amount Previously Paid: $406.00
Form or Registration No.: Schedule 13E-4
Filing Party: Henderson Citizens Bancshares, Inc.
Date File: October 15, 1997
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INTRODUCTORY STATEMENT
This Rule 13E-3 Transaction Statement on Schedule 13E-3 (the "Schedule
13E-3") is being filed by Henderson Citizens Bancshares, Inc., a Texas
corporation (the "Company"), pursuant to Section 13(e) of the Securities and
Exchange Act of 1934, as amended (the "Exchange Act"), and Rule 13e-3 thereunder
in connection with the tender offer by the Company for up to 140,000 shares of
its Common Stock, par value $5.00 per share (the "Shares"), at a price, net to
the seller in cash, of $14.50 per Share, without interest thereon, upon the
terms and subject to the conditions set forth in the Offer to Purchase, dated
October 15, 1997 (the "Offer to Purchase") and the related Letter of Transmittal
(the "Letter of Transmittal," together with the Offer to Purchase, the "Offer").
This Schedule 13E-3 is intended to satisfy the reporting requirements of Section
13(e) of the Exchange Act. Copies of the Offer to Purchase and the Letter of
Transmittal are attached as exhibits to, and incorporated by reference in, the
Tender Offer Statement on Schedule 13E-4 under the Exchange Act (the "Schedule
13E-4"). The Schedule 13E-4 was filed by the Company with the Securities and
Exchange Commission contemporaneously with this Schedule 13E-3 on October 15,
1997.
The following cross-reference sheet, prepared pursuant to General
Instruction F to Schedule 13E-3 of the Exchange Act, shows the location in the
Schedule 13E-4 of the information required to be included in response to the
items of Schedule 13E-3 of the Exchange Act. The information contained in the
Schedule 13E-4, including all exhibits thereto, is expressly and hereby
incorporated herein by reference and the responses to each item are qualified in
their entirety by reference to the information contained in the Schedule 13E-4
and the exhibits thereto. All cross references in this Schedule 13E-3, other
than cross references to the Schedule 13E-4, are to the Offer to Purchase.
CROSS-REFERENCE SHEET
Item in Location in
Schedule 13E-3 Schedule 13E-4
Item 1(a). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Item 1(a)
Item 1(b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Item 1(b)
Item 1(c). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Item 1(c)
Item 1(d). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . *
Item 1(e). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . *
Item 1(f). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . *
Item 2(a). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . *
Item 2(b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . *
Item 2(c). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . *
Item 2(d). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . *
Item 2(e). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . *
Item 2(f). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . *
Item 2(g). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . *
Item 3(a). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . *
Item 3(b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . *
Item 4(a). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . *
Item 4(b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . *
Item 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Item 3
Item 6(a). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Item 2 (a)
Item 6(b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . *
Item 6(c). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Item 2(b)
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Item 6(d). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . *
Item 7(a). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Item 3
Item 7(b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . *
Item 7(c). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . *
Item 7(d). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . *
Item 8(a). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . *
Item 8(b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . *
Item 8(c). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . *
Item 8(d). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . *
Item 8(e). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . *
Item 8(f). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . *
Item 9(a). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . *
Item 9(b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . *
Item 9(c). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . *
Item 10(a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . *
Item 10(b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Item 4
Item 11. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Item 5
Item 12(a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . *
Item 12(b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . *
Item 13(a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . *
Item 13(b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . *
Item 13(c) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . *
Item 14(a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Item 7(a)
Item 14(b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Item 7(b)
Item 15(a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . *
Item 15(b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Item 6
Item 16. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Item 8(e)
Item 17(a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Item 9(b)
Item 17(b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . *
Item 17(c) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Item 9(c)
Item 17(d) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Item 9(a)
Item 17(e) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . *
Item 17(f) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Item 9(f)
* The Item is located in the Schedule 13E-3 only.
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ITEM 1. SECURITY AND ISSUER.
(a) The answer to Item 1(a) of the Schedule 13E-4 is incorporated herein
by reference.
(b) The information set forth on the cover page and in Section 4 "Number
of Shares; Proration; Extension of the Offer" in the Offer to Purchase is
incorporated herein by reference. The answer to Item 1(b) of the Schedule 13E-4
is incorporated herein by reference.
(c) The information set forth on the cover page and in Section 11 "Price
Range of Common Stock; Dividends" in the Offer to Purchase is incorporated
herein by reference. The answer to Item 1(c) of the Schedule 13E-4 is
incorporated herein by reference.
(d) The information set forth in Section 11 "Price Range of Common Stock;
Dividends" in the Offer to Purchase is incorporated herein by reference.
(e) Not applicable.
(f) The information set forth in Section 15 "Transactions and Arrangements
Concerning the Common Stock" in the Offer to Purchase is incorporated herein by
reference.
ITEM 2. IDENTITY AND BACKGROUND.
This Statement is being filed by the issuer.
(a)-(d) The information set forth in Section 13 "Certain Information
about the Company" and in Section 15 "Transactions and Arrangements Concerning
the Common Stock" to the Offer to Purchase is incorporated herein by reference.
(e) and (f) None.
(g) The information set forth in Section 13 "Certain Information about the
Company" and in Section 15 "Transactions and Arrangements Concerning the Common
Stock" to the Offer to Purchase is incorporated herein by reference.
ITEM 3. PAST CONTACTS, TRANSACTIONS OR NEGOTIATIONS.
(a) Not applicable.
(b) None.
ITEM 4. TERMS OF THE TRANSACTION.
(a) The information set forth on the cover page, and in Section 1 "Purpose
of the Offer; Certain Effects of the Offer; Plans of the Company After the
Offer" in the Offer to Purchase is incorporated herein by reference.
(b) Not applicable.
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ITEM 5. PLANS OR PROPOSALS OF THE ISSUER OR AFFILIATE.
(a)-(g) The information set forth in Section 1 "Purpose of the Offer;
Certain Effects of the Offer; Plans of the Company After the Offer" to the Offer
to Purchase is incorporated herein by reference. The answer to Item 3 to the
Schedule 13E-4 is incorporated herein by reference.
ITEM 6. SOURCE AND AMOUNTS OF FUNDS OR OTHER CONSIDERATION.
(a) The information set forth in Section 12 "Source and Amount of Funds"
of the Offer to Purchase is incorporated herein by reference. The answer to
Item 2(a) of the Schedule 13E-4 is incorporated herein by reference.
(b) The information set forth in Section 12 "Source and Amount of Funds,"
and Section 18 "Fees and Expenses" to the Offer to Purchase is incorporated
herein by reference.
(c) Not applicable.
(d) Not applicable.
ITEM 7. PURPOSE(S), ALTERNATIVES, REASONS AND EFFECTS.
(a) The information set forth in Section 1 "Purpose of the Offer; Certain
Effects of the Offer; Plans of the Company After the Offer" to the Offer to
Purchase is incorporated herein by reference.
(b) None.
(c) The information set forth in Section 1 "Purpose of the Offer; Certain
Effects of the Offer; Plans of the Company After the Offer" to the Offer to
Purchase is incorporated herein by reference.
(d) The information set forth in Section 1 "Purpose of the Offer; Certain
Effects of the Offer; Plans of the Company After the Offer" and Section 2
"Federal Income Tax Consequences," respectively, to the Offer to Purchase is
incorporated herein by reference.
ITEM 8. FAIRNESS OF THE TRANSACTION.
(a) and (b) The information set forth in Section 3 "Fairness of the Offer;
Reports and Opinions" to the Offer to Purchase is incorporated herein by
reference.
(c) The information on the cover page, in Section 1 "Purpose of the Offer;
Certain Effects of the Offer; Plans of the Company After the Offer" and in
Section 4 "Number of Shares; Proration; Extension of the Offer" to the Offer to
Purchase is incorporated herein by reference.
(d) The information set forth in Section 3, "Fairness of the Offer,
Reports and Opinions" to the Offer to Purchase is incorporated herein by
reference.
(e) The information set forth on the cover page and in Section 3 "Fairness
of the Offer, Reports and Opinions" to the Offer to Purchase is incorporated
herein by reference.
(f) None.
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ITEM 9. REPORTS, OPINIONS AND CERTAIN NEGOTIATIONS.
(a) - (c) The information set forth in Section 3 "Fairness of the Offer,
Reports and Opinions" to the Offer to Purchase is incorporated herein by
reference.
ITEM 10. INTEREST IN SECURITIES OF THE ISSUER.
(a) and (b) The information set forth in Section 15 "Transactions and
Arrangements Concerning the Common Stock" to the Offer to Purchase is
incorporated herein by reference.
ITEM 11. CONTRACTS, ARRANGEMENTS OR UNDERSTANDINGS WITH RESPECT TO THE ISSUER'S
SECURITIES.
The information set forth in Section 15 "Transactions and Arrangements
Concerning the Common Stock" to the Offer to Purchase is incorporated herein by
reference.
ITEM 12. PRESENT INTENTION AND RECOMMENDATION OF CERTAIN PERSONS WITH REGARD TO
THE TRANSACTION.
(a) and (b) The information set forth on the cover page, in Section 1
"Purpose of the Offer; Certain Effects of the Offer; Plans of the Company After
the Offer", and in Section 15 "Transactions and Arrangements Concerning the
Common Stock" of the Offer to Purchase is incorporated herein by reference.
ITEM 13. OTHER PROVISIONS OF THE TRANSACTION.
(a)-(c) Not applicable.
ITEM 14. FINANCIAL INFORMATION.
(a) and (b) The information set forth (i) in Section 13 "Certain
Information Concerning the Company" of the Offer to Purchase; (ii) in Section 14
"Certain Pro Forma Financial Information"; (iii) on pages 24 through 45 of the
Company's Annual Report on Form 10-K/A for the year ended December 31, 1996; and
(iv) on pages 2 through 11 of the Company's Quarterly Report on Form 10-Q for
the Quarter ended June 30, 1997, are all incorporated herein by reference.
ITEM 15. PERSONS AND ASSETS EMPLOYED, RETAINED OR UTILIZED.
(a)-(b) The information set forth in the Letter of Transmittal and in
Section 18 "Fees and Expenses" to the Offer to Purchase is incorporated herein
by reference.
ITEM 16. ADDITIONAL INFORMATION.
The information set forth in the Offer to Purchase and the Letter of
Transmittal is incorporated herein by reference.
ITEM 17. MATERIAL TO BE FILED AS EXHIBITS.
(a) None.
(b) The Offer to Purchase, attached as Exhibit 99(a)(1) to the
Schedule 13E-4, is incorporated herein by reference.
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(c) None.
(d) The answer to Item 9(a) of the Schedule 13E-4 is incorporated
herein by reference.
(e) Not Applicable.
(f) None.
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SIGNATURE
After due inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
HENDERSON CITIZENS BANCSHARES, INC.
By: /s/ Rebecca G. Tanner
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Name: Rebecca G. Tanner
Title: Chief Accounting Officer
Dated: October 15, 1997
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