First State Bancorporation to Acquire Access Anytime Bancorp Inc.
31 Agosto 2005 - 11:17PM
Business Wire
First State Bancorporation ("First State") (Nasdaq: FSNM) announced
today that it has entered into a definitive agreement in which it
will acquire Access Anytime Bancorp Inc. ("Access") (Nasdaq
SmallCap: AABC) and its wholly owned subsidiary, AccessBank, in an
exchange of 0.791 shares of First State common stock for each share
of common stock of Access. Access is a financial holding company
headquartered in Albuquerque, N.M., and AccessBank is an OTS
chartered financial institution headquartered in Clovis, N.M.
AccessBank operates ten offices in Albuquerque, Clovis, Gallup, Las
Cruces, and Portales, N.M., and Sun City, Ariz. First State
Bancorporation is a $2 billion New Mexico-based commercial bank
holding company that serves communities in New Mexico, Colorado,
and Utah through its wholly owned subsidiary First State Bank N.M.
First State Bank N.M. operates as First Community Bank in Colorado
and Utah. First State has the third-largest deposit market share in
New Mexico, without giving effect to this acquisition. Pro forma
for the acquisition, First State will have total assets of
approximately $2.4 billion, with a total of 40 branches in four
states. "The acquisition of Access gives us the perfect combination
of bolstering our market share and delivery system within New
Mexico, as well as allowing us an entry into the Phoenix/Scottsdale
market in Arizona," Chief Executive Officer Michael R. Stanford
commented. "We are very excited about the long term potential for
growth in Arizona, a market that we previously identified as one
that had a high level of interest for us. By adding branches in Las
Cruces, Gallup, Clovis and Portales, we will have a virtual
statewide presence in New Mexico. By expanding into Arizona and
throughout New Mexico, along with our existing presence in northern
New Mexico, Colorado and Utah, we will establish the framework that
will allow us to carry on our record of profitable growth for many
years to come," continued Stanford. "This transaction will provide
for better recognition of the value of the Access franchise for our
stockholders, and align those interests with those of First State,
a company that has shown very solid results for its shareholders
over a long period of time," commented Norman R. Corzine, chairman
and CEO of Access. The transaction, which is subject to regulatory
approval and approval by the shareholders of Access, is expected to
close in the fourth quarter of 2005, with operational integration
to follow soon after. On Wednesday, Aug. 31, 2005, First State's
stock closed at $22.59 per share. First State will host a
conference call to discuss this acquisition, which will be
simulcast over the Internet on Tuesday, Sept. 6, 2005, at 5 p.m.
Eastern time. To listen to the call and view the slide
presentation, visit www.fsbnm.com, Investor Relations. The
conference call will be available for replay beginning Sept. 6,
2005 through Sept. 16, 2005 at www.fsbnm.com, Investor Relations.
Additional Information about the Merger and Where to Find It In
connection with the proposed merger, First State and Access will
file relevant materials with the Securities and Exchange Commission
(the "SEC"), including one or more registration statement(s) that
contain a prospectus and a proxy statement. Investors and security
holders of Access are urged to read these documents (if and when
they become available) and any other relevant documents filed with
the SEC, as well as any amendments or supplements to those
documents, because they will contain important information about
First State, Access and the merger. Investors and security holders
may obtain these documents (and any other documents filed by First
State or Access with the SEC) free of charge at the SEC's Web site
at www.sec.gov. In addition, the documents filed with the SEC by
First State may be obtained free of charge by directing such
request to: Christopher C. Spencer, Senior Vice President and CFO,
First State Bancorporation, 7900 Jefferson N.E., Albuquerque, NM
87109, phone: 505-241-7154, or from First State's Web site at
www.fsbnm.com. The documents filed with the SEC by Access may be
obtained free of charge by directing such request to: Access
Anytime Bancorp Inc., 801 Pile Street, P.O. Box 1569, Clovis, NM
88101, Attention: Corporate Secretary, 505-762-4417. Investors and
security holders are urged to read the proxy statement/prospectus
and the other relevant materials when they become available before
making any voting or investment decision with respect to the
proposed merger. First State, Access and their respective executive
officers and directors may be deemed to be participants in the
solicitation of proxies from the stockholders of Access in favor of
the merger. Information about the executive officers and directors
of First State and their ownership of First State common stock is
set forth in the proxy statement for First State's 2005 Annual
Meeting of Stockholders, which was filed with the SEC on April 25,
2005. Information about the executive officers and directors of
Access and their ownership of Access common stock is set forth in
the proxy statement for Access' 2005 Annual Meeting of
Stockholders, which was filed with the SEC on March 23, 2005.
Investors and security holders may obtain more detailed information
regarding the direct and indirect interests of First State, Access
and their respective executive officers and directors in the
acquisition by reading the proxy statement/prospectus regarding the
acquisition when it becomes available. Certain statements in this
news release are forward-looking statements, within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934 (the "Exchange Act"). The
discussions regarding our growth strategy, expansion of operations
in our markets, competition, loan and deposit growth, timing of new
branch openings, expansion opportunities including expanding our
mortgage division market share, and response to consolidation in
the banking industry include forward-looking statements. Other
forward-looking statements can be identified by the use of
forward-looking words such as "believe," "expect," "may," "will,"
"should," "seek," "approximately," "intend," "plan," "estimate," or
"anticipate" or the negative of those words or other comparable
terminology. Forward-looking statements involve inherent risks and
uncertainties. A number of important factors could cause actual
results to differ materially from those in the forward-looking
statement. Some factors include changes in interest rates, local
business conditions, government regulations, loss of key personnel
or inability to hire suitable personnel, faster or slower than
anticipated growth, economic conditions, our competitors' responses
to our marketing strategy or new competitive conditions, and
competition in the geographic and business areas in which we
conduct our operations. Other factors are described in First
State's filings with the Securities and Exchange Commission. First
State is under no obligations to update any forward-looking
statements. First State's news releases and filings with the
Securities and Exchange Commission are available through the
Investor Relations section of First State's Web site at
www.fsbnm.com.
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