SAN ANTONIO, June 19 /PRNewswire-FirstCall/ -- Amegy Bank National
Association and Intercontinental National Bank today announced the signing of
a definitive merger agreement. Upon completion of the merger, Intercontinental
Bank Shares Corporation will merge into an affiliate of Zions Bancorporation
(Nasdaq: ZION) and its subsidiary, Amegy Bank of Texas.
(Logo: http://www.newscom.com/cgi-bin/prnh/20050125/DATU059LOGO)
Intercon Bank has three banking centers located across San Antonio and a
history that dates back more than 40 years. At December 31, 2006, Intercon had
$111 million in assets, $54 million in loans, $101 million in deposits and 30
employees. As of the same date, Amegy Bank of Texas had $10 billion in assets,
$6.2 billion in loans and $7.1 billion in deposits. The acquisition is
expected to close in the third quarter.
"This acquisition will provide an established network to deliver the
customized banking solutions and personal service Amegy and its bankers have
long been known for," said David McGee, president and CEO, Amegy Bank San
Antonio. "Since we began operations here in San Antonio in January, businesses
and individuals have been extremely receptive to Amegy's unique approach to
banking. The addition of these three banking centers provides more convenience
for our business customers and their employees and brings the capabilities of
a larger bank to Intercon's customers, but with the personalized service and
relationships of a community bank."
In addition to the merger with Intercon Bank, Amegy will open a new
banking center along with its San Antonio headquarters in Union Square II,
which is located in North Central San Antonio on the east side of Highway 281,
north of Loop 410, between Jones Maltsberger and Isom roads. This banking
center is expected to be operational in July.
Noted Paul B. Murphy, Jr., CEO of Amegy Bank of Texas: "Amegy Bank has
made a long-term commitment to the San Antonio market. With this announcement,
we are able to establish a solid foundation to build upon in Central Texas
over the upcoming months and years."
"Amegy is well-respected for its customer service and incredible growth
over the past 17 years," said Steven J. Pritchard, president and CEO of
Intercon Bank. "Having worked with customers in the San Antonio area for many
years, I believe that our customers and employees will be excited to have a
bank with such diverse capabilities and a commitment to doing what's right for
the customer."
About Amegy Bank of Texas
Amegy Bank of Texas is one of the fastest growing banks in Texas. With
assets of more than $10 billion, local decision making and a history of
relationship banking, Amegy has the resources to serve leading Texas companies
as a source of capital as well as provide efficient and effective treasury
management, international and investment services. The Bank, with more than 80
locations in the state, specializes in small business banking as well as
private financial management and trust services for families and individuals,
and retail and mortgage banking services. Amegy is a part of the Zions
Bancorporation (Nasdaq: ZION) collection of great banks.
SOURCE Amegy Bank of Texas
Contact: Leigh Akin of Amegy Bank of Texas, +1-713-232-1433, leigh.akin@amegybank.com