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FVNB Corp. announces record earnings for second quarter

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  • Originally published July 26, 2008 at 4:49 p.m., updated July 26, 2008 at 4:49 p.m.

FVNB Corp., First Victoria National Bank’s parent company, announced Thursday a record net income of $3.6 million for the second quarter of this year.

The first half of the year brought a net income of $7 million, or $3.85 per share, according to an FVNB Corp. news release.

The bank’s earning performance, as well as its asset quality and capital levels, remain strong, said Russell Marshall, the company’s president and CEO.

“Our market expansion strategy includes clustering branches to deliver even greater convenience to our customers and increase brand awareness across our footprint,” he said in the release.

As of June 30, the company reported $1.38 billion in total assets and $94.4 million in shareholder’s equity.

Four new branches are slated to open in the coming months in Victoria, Magnolia, Calallen and the Bryan/ College Station area, according to the release, while at least four others are in the planning process for 2009.

Through its 18 banking locations and 25 ATMs, First Victoria serves more than 70,000 customers throughout Texas, according to the release.



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