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Bank parent firm reports record first-quarter earnings

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  • ADVOCATE STAFF REPORT
  • Originally published May 13, 2008 at 10:50 a.m., updated May 13, 2008 at 10:50 a.m.

FVNB Corp., First Victoria National Bank’s parent company, reached a net income of $3.5 million during 2008’s first quarter, according to an FVNB news release.

That’s a 12.58 percent increase from the first quarter of 2007, according to the release.

The company reported earnings per share reached $1.85 during the quarter, compared to last year’s $1.69.

Loans and core deposits increased by double digits, M. Russell Marshall, the company’s president and chief executive officer, said in the release. The company brought in more than $1 billion in loans and leases –another record – he noted.

“Market expansion continues to positively impact our financial performance and remains a priority,” added Marshall. “We are in the early stages of construction on new banking centers in Victoria, Calallen and College Station, which are planned to open later in 2008.

Additional banking centers in Montgomery and Fort Bend counties will begin construction later this year.”

First Victoria serves more than 70,000 Texas customers, according to the release.



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