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SURETY CAPITAL ANNOUNCES TERMINATION OF LETTER OF INTENT TO PURCHASE WATAUGA STATE BANK

 SURETY CAPITAL ANNOUNCES TERMINATION OF LETTER OF INTENT
 TO PURCHASE WATAUGA STATE BANK
 HURST, Texas, March 17 /PRNewswire/ -- Surety Capital Corporation (NASDAQ: LOAN) ("Surety") announced today that it has terminated a letter of intent to acquire the Watauga State Bank, Watauga, Texas.
 On Feb. 4, 1992, Surety had entered into a non-binding letter of intent contemplating the purchase of 100 percent of the common stock of Watauga State Bank, a Texas banking association located in Watauga, Texas. Surety announced today that it has terminated the letter of intent and negotiations regarding the acquisition of the Watauga State Bank.
 Jack Bean, president of Surety, stated that: "We are disappointed that the acquisition of the Watauga State Bank could not be completed. Surety intends to seek out other potential bank acquisitions where we believe it would be in the best interest of our shareholders."
 Surety Capital Corporation is an independently owned bank holding company located in Hurst. Surety owns a subsidiary national bank, Texas Bank, N.A., with full service offices located in Hurst and Lufkin, Texas. Texas Bank, N.A. engages in general commercial and consumer banking, and concentrates its lending activities in the area of insurance premium financing.
 -0- 3/17/92
 /CONTACT: C. Jack Bean, president of Surety Capital, 817-498-8154/
 (LOAN) CO: Surety Capital Corporation; Watauga State Bank ST: Texas IN: FIN SU: TNM


SH -- NY039 -- 8759 03/17/92 11:31 EST
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Publication:PR Newswire
Date:Mar 17, 1992
Words:234
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