Laserfiche WebLink
<br />News AeleaSE <br />MallI <br />Texas <br /> <br />Dall.., TX 75_ <br /> <br />J'OJl .u.u.uIA!I.'.I D1rr..:a_ <br />January It, 198' <br /> <br />J:).:I.T,t___ -- NCNI Tau National Bank today reported <br />consolidated net income of '20.1 million tor the 40 day. ended <br />Dec. 31, 1988. ~i. represent. the period following <br />reoapitaiilation ot the bank on Nov. 22. <br />"We an extremely pleaaed that NCNB 'rex.. haa ~;un on such <br />a po.itive e.rnini' note,n .aid Timothy P. Hartman, vice <br />chairman. . "It further .trengthens our already optimistic view of <br />the future for our bank and the economy of Texa.. We are al.o <br />pleased that the FDtC will ce;in to ... an immediate benetit trom <br />it. equity position." <br />Under term. of the Noy. 22 .ettlement, NCNB.Corp. ha. a 20 <br />percent equity inve.tIlIent in NCNB Tex... The FDIC'. 80 peroent <br />equity investment entitle. the agency to a like share in current <br />and retained earnings ot the bank, Hartman said. <br />NCNB Corp. will report in its consoli4ated .tatement of <br />income forth. fourth quarter at 1988 its 20 percent share of the <br />profit. fram the initial 40 day. of operations. <br />The '20.1 million in earn in;. added to the bank'. already <br />strong equity capital, which wa. '1.07Q billion on Dec. 31, <br />1988, the largelt equity capital ba.e of any bank in Texa.. loth <br />the primary an4 total capital ratios were 6.2 percent, ranking <br />among the high.st of all banki~9 organilation. in Texa.. <br />-lIOn- <br />