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TEXAS TRUST OPENS MORTGAGE OPERATION

 DALLAS, March 15 /PRNewswire/ -- Texas Trust Savings Bank, FSB today announced the formation of a new mortgage banking operation, TxT Mortgage Company, to serve Texas and the Southwest.
 The new company, based in Dallas, will be directed by its newly named president, Ross T. Anderson. Anderson has a total of 30 years of experience with two major Texas lenders. He served as president of Murray Mortgage Company in Dallas and previously was associated with Lumbermen's Investment Corporation.
 Texas Trust, based in Austin, Texas, with eight banking branches located primarily in central Texas, already has mortgage banking operations in Austin and Temple, Texas. The new operation will focus on expanding this nucleus into other Texas and Southwest regional markets.
 Texas Trust is the Savings and Loan subsidiary of Dallas-based Centex Corporation (NYSE: CTX). Centex also has operations in home building and mortgage banking, contracting and construction services and construction products. Centex's mortgage banking operation, CTX Mortgage Company, is one of the nation's leading mortgage originators. It operates 91 branch offices throughout the United States and will originate more than $4 billion of single-family mortgage loans during its current fiscal year ending March 31, 1993.
 Texas Trust said that its establishment of a mortgage banking operation is consistent with the savings and loan's previously announced intention to expand the financial services portion of its business. The new operation enables Texas Trust to maximize the utilization of its deposit base in a conservative and profitable manner. Although several markets will have both Centex and Texas Trust Mortgage Banking operations, the companies believe there is sufficient mortgage origination business for both and that competition between the two will be minimal.
 TxT Mortgage Company will be headquartered at 3710 Rawlins St., Dallas, Texas, 75219.
 -0- 3/15/93
 /CONTACT: David W. Quinn, executive vice president and chief financial officer of Centex Corporation, 214-559-6500/
 (CTX)


CO: Texas Trust Savings Bank, FSB ST: Texas IN: FIN SU:

CK -- NY088 -- 6219 03/15/93 16:38 EST
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Publication:PR Newswire
Date:Mar 15, 1993
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