State Bank Announces Purchase of Caldwell and Lexington Branches of Central Bank, Houston, Texas
10 August 2004 - 10:30AM
PR Newswire (US)
State Bank Announces Purchase of Caldwell and Lexington Branches of
Central Bank, Houston, Texas LA GRANGE, Texas, Aug. 9
/PRNewswire-FirstCall/ -- State Bank, a wholly owned subsidiary of
Texas United Bancshares, Inc. (NASDAQ:TXUI) ("Texas United"), has
completed its previously announced acquisition of the Caldwell and
Lexington branches of Central Bank in Houston, Texas. "The
acquisition of Central Bank branches are expected to improve our
efficiency given their proximity to some of our existing banking
centers, and their relatively low levels of non-interest expense,"
said Don Stricklin, President and CEO of State Bank. "The
acquisition of the Lexington branch will increase our deposit share
in Lee County, where we currently maintain two banking centers. The
acquisition of the Caldwell branch provides us a point of entry
into the county seat of Burleson County, which is contiguous to
Brazos County, home of our three Bryan-College Station banking
centers," added Mr. Stricklin. Texas United Bancshares, Inc. is a
registered financial holding company listed on the Nasdaq National
Market under the symbol "TXUI". Its wholly owned subsidiary, State
Bank, offers a complete range of banking services through 18 full
service banking centers located in the greater central and south
central Texas area. In addition, State Bank has eight mortgage loan
production offices located in Houston and San Antonio through its
wholly-owned subsidiary Community Home Loan. In connection with the
proposed merger of GNB Bancshares, Inc. ("GNB") into Texas United,
Texas United has filed with the Securities and Exchange Commission
a registration statement on Form S-4 to register the shares of
Texas United's common stock to be issued to the shareholders of
GNB. The registration statement includes a joint proxy
statement/prospectus, which will be sent to the shareholders of GNB
and the shareholders of Texas United seeking their approval of the
proposed transaction. WE URGE INVESTORS AND SECURITY HOLDERS TO
READ THE REGISTRATION STATEMENT ON FORM S-4 AND THE JOINT PROXY
STATEMENT/PROSPECTUS INCLUDED WITHIN THE REGISTRATION STATEMENT ON
FORM S-4 AND ANY OTHER RELEVANT DOCUMENTS TO BE FILED WITH THE
SECURITIES AND EXCHANGE COMMISSION IN CONNECTION WITH THE PROPOSED
TRANSACTION, BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT TEXAS
UNITED, GNB AND THE PROPOSED TRANSACTION. Investors and security
holders may obtain free copies of these documents through the
website maintained by the Securities and Exchange Commission at
http://www.sec.gov/ . Free copies of the joint proxy
statement/prospectus may also be obtained by directing a request by
telephone or mail to Texas United Bancshares, Inc., 202 West
Colorado St., La Grange, Texas 78945, Attn: Investor Relations.
Texas United's telephone number is (979) 968-8451. The directors,
executive officers, and certain other members of management of
Texas United and GNB may be soliciting proxies in favor of the
merger from the companies' respective shareholders. For information
about these directors, executive officers, and members of
management, shareholders are asked to refer to the Registration
Statement on Form S-4 and the most recent proxy statement issued by
Texas United, which are available at the addresses provided in the
preceding paragraph. DATASOURCE: Texas United Bancshares, Inc.
CONTACT: Tom Adams of Texas United Bancshares, Inc.,
+1-979-968-7261
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