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BANCTEXAS GROUP INC. COMPLETES ACQUISITION OF FIRST BANK/LAS COLINAS

 DALLAS, Jan. 4 /PRNewswire/ -- BancTEXAS Group Inc. (NYSE: BTX), a bank holding company the stock of which is traded on the New York Stock Exchange ("BTX"), today announced that its acquisition of First Bank/Las Colinas, a state-chartered bank located in Dallas County, Texas ("First Bank"), was completed as scheduled on Dec. 31, 1992.
 Nathan C. Collins, chairman of the board, president and chief executive officer of BTX stated that: "It is with great pride that we announce the completion of this acquisition. With this entry into Dallas County and our continued improvement in bank operating results we will provide even better service for customers wanting locally run banking services. BancTEXAS Group is hopeful that this transaction can be the pattern for similar acquisitions in the future as we continue our quest to build a strong, growing Texas-based bank to serve Texas markets. Our board of directors, management and staff expect that BTX's 1993 results will show continued improvement over those of 1992."
 First Bank was merged into BTX's wholly owned subsidiary, BankTEXAS N.A., a national banking association, ("BankTEXAS") and is now operating as the Las Colinas branch of BankTEXAS. As a result of this merger, BankTEXAS ended the year with total assets of approximately $312 million and total capital of approximately $15 million.
 The 61 stockholders of First Bank will receive shares of BTX common stock in accordance with a formula based upon the average closing stock price of BTX common stock during the 10-day period which began on Dec. 16 and ended on Dec. 30, 1992. Under that formula each of the 200,000 shares of First Bank stock now outstanding will be converted into 11 shares of BTX common stock. Each First Bank stockholder will receive detailed instructions for the exchange of stock certificates in the near future.
 -0- 1/4/93
 /CONTACT: Nathan C. Collins of BancTEXAS Group Inc., 214-701-4701/
 (BTX)


CO: BancTEXAS Group Inc. ST: Texas IN: FIN SU: TNM

TS -- NY024 -- 1216 01/04/93 09:59 EST
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Publication:PR Newswire
Date:Jan 4, 1993
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