DNB directors approve transfer of outstanding stock to BOH

The Dublin National Bank (“DNB”) and BOH Holdings, Inc. (“BOH”), a Texas corporation, announced today the signing of a definitive agreement for BOH to acquire all of the outstanding stock of DNB pursuant to the terms of the agreement.

DNB is a nationally chartered bank located in Dublin, Texas, about 80 miles west of Fort Worth. As of September 30, 2017, DNB had total assets of $30.1 million.

“On behalf of the employees, officers and directors of DNB, I would like to express our excitement to announce this agreement with BOH," said James N. Mulloy, Jr., Chairman and CEO of DNB.

BOH is a Texas corporation, led by James D. Stein, of Houston, Texas formed to serve as a bank holding company. Upon closing of the transaction, BOH anticipates adding banking operations in Houston, Texas.

"Joining with BOH is a great opportunity for our employees and will enable us to continue to serve the needs of our customer base and community," said Monte Thiebaud, President of DNB.  Mr. Thiebaud will continue to serve the bank’s customers in Dublin, Texas.

"We are very excited to team up with the folks at The Dublin National Bank,” said James Stein. “I began my banking career in the 1980s as President of a small Texas town community bank, and I recognize the importance of a community bank to a small town. We fully intend to embrace and enhance our 125 year commitment to the Dublin community and look forward to getting to know and working with the local residents and businesses in the years ahead."

The agreement has been unanimously approved by the DNB Board of Directors, and transaction is expected to close during the second quarter of 2018. The transaction is subject to certain conditions, including the approval by DNB’s shareholders and customary regulatory approvals.

Hovde Group acted as financial advisor to Dublin National Bank and Larry Temple served as legal counsel. Fenimore, Kay, Harrison and Ford, LLP served as legal counsel to BOH Holdings, Inc.

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