TEXAS REGIONAL BANCSHARES, INC. 3900 N. 10TH STREET, 11TH FLOOR MCALLEN, TEXAS 78502Texas Regional Bancshares Inc • March 18th, 2002 • State commercial banks
On February 22, 2002, Texas Regional Bancshares, Inc. ("Texas Regional") acquired Riverway Holdings, Inc. ("Riverway") through the merger of Riverway with and into Texas Regional's consolidated subsidiary, Texas Regional Delaware, Inc. As a result of the merger, Texas Regional Delaware, Inc. became the obligor on indebtedness related to trust preferred securities that had previously been indebtedness of Riverway. The indebtedness related to these trust preferred securities now represents long term debt of Texas Regional Delaware, Inc., but the amount of the indebtedness is substantially less than 10 percent of the total assets of Texas Regional Bancshares, Inc., and its subsidiaries on a consolidated basis.
