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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 (Date of earliest event reported)
January 3, 1997
FORT BEND HOLDING CORP.
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(Exact name of Registrant as specified in its Charter)
DELAWARE 0-21328 76-0391720
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(State or other jurisdiction (Commission File No.) (IRS Employer
of incorporation) Identification Number)
3400 AVENUE H. ROSENBERG, TEXAS 77471-3808
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (281) 342-5571
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(Former name or former address, if changed since last report)
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Item 5. Other Events
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On January 3, 1997, the Registrant issued the press release attached as
Exhibit 99 announcing the purchase of a majority interest in Mitchell
Mortgage.
The foregoing information does not purport to be complete and is
qualified in its entirety by reference to the Exhibit to this Report.
Item 7. Press Release
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(c) Exhibits
The Exhibit referred to in Item 5 of this Report and listed on the
accompanying Exhibit Index is filed as part of this Report and is incorporated
herein by reference.
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EXHIBIT
NUMBER DESCRIPTION
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99 Press release, dated January 3, 1997
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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 thereunto duly authorized.
FORT BEND HOLDING CORP.
Date: January 6, 1997 By: /s/ LANE WARD
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Lane Ward
Vice Chairman, President and
Chief Executive Officer
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Exhibit 99
5
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FOR IMMEDIATE RELEASE For more information contact:
JANUARY 3, 1997 Lane Ward, President/CEO
(281) 342-5571
FORT BEND HOLDING CORP. PURCHASES MAJORITY INTEREST IN
MITCHELL MORTGAGE
ROSENBERG, TEXAS, January 3, 1997 -- Fort Bend Holding Corp. ("FBHC")
today announced that its wholly owned subsidiary, Fort Bend Federal Savings and
Loan Association, has completed the purchase of a 51 percent interest in
Mitchell Mortgage Company, the full service mortgage banking affiliate of The
Woodlands Corporation, developer of the Woodlands.
As a result of the transaction, Mitchell Mortgage will become a new
limited liability company called Mitchell Mortgage Company, L.L.C. The company
will continue to engage in the mortgage banking business from its headquarters
in The Woodlands, offering a range of services that includes the origination and
servicing of single family residential loans, single family construction loans,
and commercial and multifamily real estate loans. Mitchell Mortgage, established
in 1974, has a more than 20-year history of stable ownership and steady growth
and currently has a servicing portfolio of approximately $600 million.
"Our acquisition of a majority interest in Mitchell Mortgage provides us
with the opportunity to establish a presence in the strategically important
growth areas of Northwest Harris and Montgomery Counties while also pursuing new
business growth opportunities," said Lane Ward, vice chairman and president of
FBHC. "We have enjoyed a good business relationship with Mitchell Mortgage for
more than seven years, and we have the very highest regard for the management
team which will remain in place at the new company as a result of the ownership
restructuring."
Dale Andreas, president of Mitchell Mortgage, says the deal offers
Mitchell Mortgage new growth opportunities while maintaining an ownership
affiliation with The Woodlands Corporation and its parent company, Mitchell
Energy & Development Corp. "We're excited about the growth opportunities that
will be available to Mitchell Mortgage and our employees as a result of our new
relationship with Fort Bend Federal Savings and Loan Association," Andreas said.
"This ownership restructuring will provide our company with additional resources
for loans to our single family residential, single family construction, and
commercial and multifamily lending customers."
Fort Bend Federal Savings and Loan, headquartered in Rosenberg, Texas,
was established in 1932 and currently has five branch locations. Fort Bend
Holding Corp. reported total assets of $280 million and stockholders equity of
$18.0 million as of September 30, 1996. Fort Bend Holding Corp.'s stock is
traded on the Nasdaq National Market under the symbol FBHC.
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