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INTERCONTINENTAL BANK NEGOTIATING TO ACQUIRE COUNTY NATIONAL BANK OF SOUTH FLORIDA

 MIAMI, May 12 /PRNewswire/ -- Intercontinental Bank (NASDAQ-NMS: ICBK) today announced that it was negotiating to acquire County National Bank of South Florida ("County National"), a $239 million commercial bank headquartered in Miami. County National currently operates seven banking offices in Dade County and one banking office in Broward County, Florida. At March 31, 1993 Intercontinental Bank had assets totaling $876 million and had 19 banking offices in Dade and Broward counties and one office in Orange County, Florida.
 The acquisition of County National by Intercontinental Bank would make Intercontinental Bank one of the largest independent banks in Florida having assets in excess of $1.1 billion. Chairman William H. Allen Jr. stated that while negotiations are ongoing, no assurance can be given as to the finalization of an agreement that will be mutually acceptable to the parties involved in the transaction.
 Intercontinental Bank's common stock is quoted on NASDAQ-NMS under the symbol ICBK.
 -0- 5/12/93
 /CONTACT: Thomas E. Beier, executive vice president of Intercontinental Bank, 305-377-6902/
 (ICBK)


CO: Intercontinental Bank; County National Bank of South Florida ST: Florida IN: FIN SU: TNM

AW-JB -- FL016 -- 7632 05/12/93 13:46 EDT
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Publication:PR Newswire
Date:May 12, 1993
Words:193
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