Printer Friendly

REGULATORS APPROVE ACQUISITION BY BANCTEXAS GROUP INC.

 DALLAS, Dec. 2 ~PRNewswire~ -- BancTEXAS Group Inc., a bank holding company whose stock is traded on the New York Stock Exchange (NYSE: BTX), announced today that all regulatory approvals have been received relating to its 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. As previously announced, this acquisition is to be accomplished by means of an anti-dilutive exchange of BTX's common stock for that of First Bank~ Las Colinas. Pursuant to the merger agreement, a pricing period of ten days will determine the exact exchange ratio. Approval by the shareholders of First Bank~Las Colinas at a special meeting to be held on Dec. 16 is also necessary.
 On a pro forma basis, the capital ratios for the merged banks would have been as follows on Sept. 30, 1992: leverage capital of 5.03 percent; Tier I capital at 7.36 percent of risk weighted assets; and total capital at 8.61 percent of risk weighted assets.
 Pursuant to the Federal Deposit Insurance Corporation Improvement Act effective Dec. 19, 1992, in order for a bank to be "adequately capitalized" it must have leverage capital of 4 percent; Tier I capital at 4 percent of risk weighted assets; and total capital at 8 percent of risk weighted assets. Assuming consummation of this merger before yearend 1992, BankTEXAS N.A. will have met or exceeded all three tests and should be deemed to be an "adequately capitalized" bank, the second highest category recognized by this Act.
 As reported previously, BankTEXAS N.A. is currently subject to a formal agreement with the O.C.C. which requires leverage capital of 5 percent and Tier I capital at 8.75 percent of risk weighted assets.
 On Sept. 30, 1992, BankTEXAS N.A. reported leverage capital of 4.04 percent; Tier I capital was 5.95 percent of risk weighted assets; and total capital was 7.45 percent of risk weighted assets. On Sept. 30, 1992, First Bank~Las Colinas reported leverage capital of 18.64 percent; Tier I capital was 29.28 percent of risk weighted assets; and total capital was 30.94 percent of risk weighted assets.
 Nathan C. Collins, chairman of the board and chief executive officer of BTX, expressed his enthusiasm for this step in the continuing recovery of BTX and BankTEXAS N.A. "We are gratified at this opportunity to serve the Dallas community again and most pleased that this transaction will restore our bank to acceptable capital levels."
 -0- 12~2~92
 ~CONTACT: Nathan C. Collins of BancTEXAS Group Inc., 214-701-4701~
 (BTX)


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

GK -- NY014 -- 2802 12~02~92 10:12 EST
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:Nov 30, 1992
Words:460
Previous Article:UNITED STATES TOBACCO COMPANY SELLS DISTRIBUTION RIGHTS FOR ZIG-ZAG CIGARETTE PAPERS AND RELATED PRODUCTS
Next Article:DRS INDUSTRIES TO REORGANIZE SUBSIDIARY UNDER CHAPTER 11
Topics:


Related Articles
BANCTEXAS SIGNS DEFINITIVE AGREEMENT TO ACQUIRE BANK
BANCTEXAS GROUP ANNOUNCES EARNINGS AND ACQUISITION DEVELOPMENTS
BANCTEXAS GROUP ANNOUNCES EARNINGS
BANCTEXAS GROUP INC. COMPLETES ACQUISITION OF FIRST BANK/LAS COLINAS
BANCTEXAS COMMENTS ON UNUSUAL STOCK TRADING VOLUME
FIRST BANKS, INC. TO INVEST $30 MILLION IN BANCTEXAS GROUP INC.
BANCTEXAS GROUP INC. ANNOUNCES RESULTS OF STOCKHOLDERS' MEETING
BANCTEXAS GROUP INC. ANNOUNCES COMPLETION OF PRIVATE PLACEMENT
BANCTEXAS GROUP INC. ANNOUNCES RESULTS OF ANNUAL STOCKHOLDERS' MEETING

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