Austin Bank acquires Kilgore bank

Jeff Austin III, vice-chairman of the board of Austin Bank, has announced the bank has entered into an agreement to acquire Kilgore's City National Bank.

The agreement is subject to regulatory approval. City National, with assets of approximately $170 million, will be merged with Austin Bank tentatively on Tuesday, February 19, 2008.

Vice Chairman Austin said, "We welcome the opportunity to serve the customers of City National Bank.They will be able to continue banking in Kilgore, Gladewater and Longview while having access to our other locations in East Texas."

Roland Velvin, City National Bank President/CEO, echoed Austin's comments. "We have confidence that Austin Bank is the right choice for our bank and its customers. We look forward to becoming part of the Austin Bank organization because of its commitment to quality and highly personalized service."

Austin Bank, an East Texas based community bank with headquarters in Jacksonville, has in excess of $800 million in assets with 23 offices in nine counties.