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Article: MBank Corpus Christi announces purchase agreement.
- Article from:
- PR Newswire
- Article date:
- March 9, 1990
CopyrightCOPYRIGHT 1990 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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MBANK CORPUS CHRISTI ANNOUNCES PURCHASE AGREEMENT
CORPUS CHRISTI, Texas, March 9 /PRNewswire/ -- MBank Corpus Christi announced today that it has executed a definitive agreement with MCorp (PSE: M.P) that will result in the acquisition of the bank by a private investor group. Making the announcement was Jerry W. Gates, president and chief executive officer of the bank.
The transaction, which is subject to the approval of bank regulatory agencies and the bankruptcy court, is expected to be completed by July 31. MCorp has been in Chapter 11 proceedings since March 31, 1989. MBank Corpus Christi is a wholly-owned banking subsidiary of MCorp with assets ...