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© 1995- The E.W.
Scripps Co. and the Abilene Reporter-News. All Rights Reserved. Site users are subject to our User Agreement. We also have a Privacy Policy. |
Friday, September 25, 1998 Acquisition of Azle State bank completed Independent Bankshares Inc. completed its acquisition of Azle
State Bank earlier this week. To finance a major portion of the $19 million cash transaction,
the Abilene-based bank holding company offered and sold 230,00
shares of common stock and 1.3 million shares of preferred securities. The Azle bank has total assets of $92.1 million, $45 million
in loans, almost $81 million in deposits and nearly $9.9 million
in stockholders' equity. Independent Bankshares president and CEO Bryan Stephenson said
the acquisition will "add some diversity to our banks. The
Azle area is growing, especially in the last four to five years.
The addition ... will position us on the edge of the Dallas-Fort
Worth Metroplex." The holding company now owns the Azle bank with two locations
and 11 offices of First State Bank, N.A. They are located in Abilene,
Odessa, Lubbock, San Angelo, Stamford and Winters.
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© 1995- The E.W.
Scripps Co. and the Abilene Reporter-News.
All Rights Reserved.
Site users are subject to our User Agreement. We also have a Privacy Policy.