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SURETY CAPITAL CORPORATION ANNOUNCES COMPLETION OF BANK MERGERS

 HURST, Texas, March 24 /PRNewswire/ -- Surety Capital Corporation (NASDAQ: LOAN) announced today that it has completed the mergers of the Bank of East Texas, located in Chester, Texas, and the First State Bank, located in Wells, Texas, with and into Surety's subsidiary, Texas Bank, National Association.
 With the completion of these mergers, Texas Bank will have increased its asset size by approximately 60 percent. As of Feb. 28, 1993, the Bank of East Texas had assets of $8,355,902 and the First State Bank had assets of $11,510,263. The newly merged Bank will have four full service banking locations located in Lufkin, Chester, Wells and Hurst, Texas.
 Jack Bean, chairman of the board of Surety, stated: "The mergers of the Bank of East Texas and the First State Bank into Texas Bank represents the first step in Surety's plan to increase its asset base. The completion of these mergers, along with the recently released positive operating results for 1992, demonstrate Surety's growth and profitability potential." Bean also pointed out that these mergers were completed without incurring debt, and Surety remains debt free.
 Surety's common stock is publicly traded on the National Association of Securities Dealers Automated Quotation System (NASDAQ) under the symbol "LOAN".
 -0- 3/24/93
 /CONTACT: C. Jack Bean of Surety Capital Corporation, 817-428-9141 or 800-451-0273/
 (LOAN)


CO: Surety Capital Corporation ST: Texas IN: FIN SU: TNM

PS -- NY013 -- 8997 03/24/93 09:40 EST
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Publication:PR Newswire
Date:Mar 24, 1993
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