| Southwest Bancorporation of Texas, Inc. | |||
| Ticker: | SWBT | 4400 Post Oak Parkway | |
| Exchange: | NASDAQ-National Market | Houston, TX 77027 | |
| Industry: | Financial (SIC Code 6712) | (713) 235-8800 | |
| Type of Shares: | Common Shares | Filing Date: | 11/20/96 | |
| U.S. Shares: | 1,334,753 | Offer Date: | 1/27/97 | |
| Non-U.S. Shares: | 0 | Filing Range: | $14.00 - $16.00 | |
| Primary Shares: | 1,150,000 | Offer Price: | $16.50 | |
| Secondary Shares: | 184,753 | Gross Spread: | $1.14 | |
| Offering Amount: | $20,021,295 | Selling: | $0.68 | |
| Expenses: | $350,000 | Reallowance: | $0.10 | |
| Shares Out After: | 9,131,595 |
| Manager | Tier | Phone |
| Keefe, Bruyette & Woods, Inc. | Lead Manager | (212) 323-8470 |
| Legg Mason Wood Walker, Inc. | Co-manager | (410) 539-4038 |
| Issuer's Law Firm: | Vinson & Elkins |
| Bank's Law Firm: | Skadden, Arps, Slate, Meagher & Flom |
| Auditor: | Coopers & Lybrand |
Dollar amounts in U.S. millions except for per share data | |||||
| 9 Month Ending Financials | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 9/30/96 | 9/30/95 | 9/30/96 | ||
| Revenue: | $32.40 | $29.77 | $23.26 | Assets: | $839.11 |
| Net Income: | $0.92 | $7.39 | $5.59 | Curr Assets: | |
| EPS: | $0.70 | $0.87 | $0.66 | Liabilities: | $791.15 |
| Prior EPS: | $0.43 | $10.64 | $5.94 | Curr Liabilities: | |
| Cash Flow/Oper: | $8.33 | Equity: | $47.96 | ||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company is a bank holding company headquartered in Houston, Texas. As of December 31, 1996, the company had assets of $1.0 billion, net loans of $595.5 million, total deposits of $833.6 million and total shareholders' equity of $54.6 million. Substantially all of the company's revenue and income is derived from the operation of its bank subsidiary, Southwest Bank of Texas National Association, a national bank with seven full service banking facilities in the Houston area. The Bank provides a full range of commercial and private banking services, including financial planning and investment management, to small and middle market businesses and individuals in the Houston metropolitan area. Based on total assets as of September 30, 1996, the company is the largest independent bank holding company headquartered in the Houston metropolitan area. |
| Competition |
| The banking business is highly competitive, and the profitability of the company will depend principally upon the company's ability to compete in its market area. The company competes with other commercial and savings banks, savings and loan associations, credit unions, finance companies, mutual funds, insurance companies, brokerage and investment banking firms, asset-based non-bank lenders and certain other non-financial institutions, including certain governmental organizations which may offer subsidized financing at lower rates than those offered by the company. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to redeem preferred stock issued by the bank and the remainder will be used for general corporate purposes. |