March 12, 2003
For Information Contact:
Erica Vasek at State Bank (979) 968-7294
erica.vasek@statebanktx.com
LA GRANGE, TEXAS - Texas United Bancshares, Inc. (Nasdaq: TXUI), an independent bank holding company, announced that its board of directors has declared a $0.08 per share regular quarterly cash dividend and a $0.02 per share special cash dividend on the common stock of the company for the first quarter of 2003. The dividend will be paid on April 2, 2003, to shareholders of record as of March 14, 2003. Annualized, this represents a dividend payout of 33% of prior year's earnings.
This represents the seventh consecutive quarter that a $0.02 per share special cash dividend has been paid to the company's shareholders as a result of continued strong earnings and sound asset quality.
Texas United Bancshares, Inc. is a registered financial holding company listed on the Nasdaq National Market under the symbol "TXUI." Its wholly owned subsidiary, State Bank, offers a complete range of banking services in the greater central and south central Texas area. In addition to its main office in La Grange, State Bank operates 18 full-service banking centers located in the Texas counties of Fayette, Lee, Waller, Atascosa, Comal, Harris, Williamson, Travis, Colorado, Brazos and Gonzales.
Except for historical information, this press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties, including, but not limited to, the following: general business and economic conditions in the markets Texas United serves may be less favorable than expected which could decrease the demand for loan, deposit and other financial services and increase loan delinquencies and defaults; changes in the interest rate environment which could reduce Texas United's net interest margin; acquisition integration may be more difficult than anticipated; legislative or regulatory developments including changes in laws concerning taxes, banking, securities, insurance and other aspects of the financial securities industry; competitive factors may increase, including product and pricing pressures among financial services organizations; and changes in accounting principles, policies or guidelines. All written or oral forward-looking statements are expressly qualified in their entirety by these cautionary statements. Please also read the additional risks and factors described from time to time in Texas United's reports and registration statements filed with the Securities and Exchange Commission.
