Printer Friendly

BANCTEXAS GROUP ANNOUNCES EARNINGS

 BANCTEXAS GROUP ANNOUNCES EARNINGS
 DALLAS, Oct. 16 /PRNewswire/ -- BancTEXAS Group Inc., a bank holding


company whose stock is traded on the New York Stock Exchange (NYSE: BTX), announced today that its earnings for the third quarter of 1992 were $353,000, compared to a loss of $589,000 for the third quarter of 1991. On a per share basis, BTX earned 2 cents per share for the third quarter of 1992 compared to a loss of 3 cents per share for the third quarter of 1991.
 For the first nine months of 1992, BTX reported a profit of $633,000 or 4 cents per share, compared to a loss of $2,586,000 or 15 cents per share in the same period in 1991. Nathan C. Collins, chairman of the board and chief executive officer of BTX, expressed confidence that the company will continue to report operating profits through the remainder of 1992, thus completing the first full year of operating profits for BTX since 1983.
 Collins also announced that the various steps necessary to complete the acquisition of First Bank/Las Colinas, a $21 million state-chartered bank in Dallas County, which is to be merged into BTX's wholly-owned subsidiary, BankTEXAS N.A., were processing according to schedule. "We are excited about the potential that this acquisition presents for the opportunity to serve new customers, to expand our franchise, to strengthen the bank's capital base and to provide additional earnings in 1993."
 Collins indicated that BTX is continuing to evaluate other possible means of enhancing its capital position in the future to meet applicable regulatory requirements. "We see the Las Colinas bank as a first step. Assuming that all required regulatory and shareholder approvals are received, this merger should be accomplished by year end 1992. BTX then plans to actively pursue all appropriate opportunities for additional capital as we continue to build this Texas banking franchise."
 At Sept. 30, 1992, BTX's consolidated assets were $305 million compared to $266 million at Dec. 31, 1991. At Sept. 30, 1992, nonperforming assets were $7.1 million, or 4.1 percent of loans and foreclosed property, compared to $10.3 million or 5.8 percent of loans and foreclosed property at Dec. 31, 1991. The allowance for loan losses at Sept. 30, 1992, was $3.4 million, or 2.0 percent of loans. This allowance compares to $4.2 million, or 2.4 percent, at Dec. 31, 1991.
 Tier I capital was 4.91 percent of risk weighted assets for BancTEXAS Group and was 5.95 percent for BankTEXAS N.A. at Sept. 30, 1992. Total capital was 6.74 percent of risk weighted assets for BancTEXAS Group and was 7.46 percent for BankTEXAS N.A. at Sept. 30, 1992.
 BANCTEXAS GROUP INC.
 Financial Summary
 (In thousands, except per share)
 Third Quarter 1992 1991
 Net interest income $3,192 $2,537
 Provision for loan losses 160 250
 Net income (loss) $ 353 $ (589)
 Net income (loss) per share $.02 $(.03)
 Average number of shares outstanding 16,967 16,884
 Period End 9/30/92 9/30/91
 Assets $305,303 $248,666
 Deposits 248,898 223,110
 Loans 170,331 172,515
 Allowance for loan losses 3,395 5,169
 Stockholders' equity 9,862 9,546
 Nonperforming assets $ 7,115 $ 13,022
 Risk Based Capital Ratio, Tier I 4.91 pct 4.94 pct
 Risk Based Capital Ratio, Total 6.74 pct 6.89 pct
 -0- 10/16/92
 /CONTACT: Kert Moore, treasurer and chief financial officer of BancTEXAS Group, 214-548-4010/
 (BTX) CO: BancTEXAS Group Inc. ST: Texas IN: FIN SU: ERN


GK -- NY062 -- 1066 10/16/92 15:22 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 16, 1992
Words:608
Previous Article:TEPPCO PARTNERS, L.P. REPORTS THIRD QUARTER RESULTS OF OPERATIONS
Next Article:WHEELING-PITTSBURGH STEEL CORPORATION ANNOUNCES PRICE CHANGES
Topics:


Related Articles
BANCTEXAS HAS IMPROVED OPERATING RESULTS AND JUMPS FDIC HURDLE
BANCTEXAS GROUP ANNOUNCES EARNINGS AND ACQUISITION DEVELOPMENTS
BANCTEXAS GROUP INC. REPORTS IMPROVED EARNINGS
BANCTEXAS GROUP INC. ANNOUNCES THIRD QUARTER RESULTS
BANCTEXAS GROUP INC. ANNOUNCES EARNINGS FOR 1993
FIRST BANKS, INC. TO INVEST $30 MILLION IN BANCTEXAS GROUP INC.
BANCTEXAS GROUP INC. ANNOUNCES THIRD QUARTER RESULTS
BANCTEXAS GROUP INC. ANNOUNCES FIRST QUARTER RESULTS OF 1995
BANCTEXAS GROUP INC. ANNOUNCES SECOND QUARTER RESULTS OF 1995

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters