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EXHIBIT 1.2
SUCCESS BANCSHARES, INC.
(a Delaware corporation)
1,200,000 Shares of
Common Stock
PUBLIC OFFERING ACKNOWLEDGEMENT
October 20, 1997
EVEREN Securities, Inc.
00 Xxxx Xxxxxx Xxxxx
Xxxxxxx, Xxxxxxxx 00000-1994
Gentlemen:
Pursuant to Section 1 of the Agency Agreement (the "AGREEMENT") dated
as of September 19, 1997 between Success Bancshares, Inc., a Delaware
corporation (the "COMPANY"), and EVEREN Securities, Inc., (the "AGENT"), the
Company and the Agent have determined to conduct a Public Offering of 600,000
Shares. The Company and the Agent are executing this Public Offering
Acknowledgment to acknowledge and confirm that the Agreement shall constitute
the underwriting agreement between the Company and the Agent for purposes of
the Public Offering. On the basis of the representations, warranties and
agreements contained in the Agreement, the Agent will offer 600,000 Shares to
the general public at $12.50 per share, the Price to the Public set forth on
the cover page of the Prospectus, and will purchase such Shares from the
Company at such price less an underwriting discount of 7%. The Company also
grants the Agent an option, exercisable within 30 days of the completion of the
Public Offering, to purchase up to an additional 15% of the Shares sold in the
Public Offering to cover over-allotments, if any, at the same price as paid by
the Agent for the other Shares purchased pursuant to the Agreement.
Any terms not expressly defined herein shall have the same definition
and meaning as is set forth in the Agreement.
Very truly yours,
SUCCESS BANCSHARES, INC.
By: /s/ XXXX X. XXXXXX
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Xxxx X. Xxxxxx
President and Chief Executive Officer
Accepted as of the date first above written.
EVEREN SECURITIES, INC.
By: /s/ XXXXXX X. XXXXXXX
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Xxxxxx X. Xxxxxxx
Senior Managing Director
