April 7, 2016
FOR IMMEDIATE RELEASE
CITIZENS NATIONAL BANK ANNOUNCES
THE ACQUISITION OF KILGORE NATIONAL BANK
Citizens National Bank in Henderson, Texas announced today that it has entered into an agreement to
acquire Kilgore National Bank, a Kilgore-based community bank with total assets of $83 million as of
December 31, 2015. Established in 2000, Kilgore National Bank has grown to three full-service locations
serving the East Texas communities of Kilgore, Tyler and Troup.
Brad Tidwell, President and CEO of Citizens National Bank commented, “Citizens National Bank is proud
to partner with Kilgore National Bank and its outstanding team of bankers. We are very excited about the
opportunity to serve the customers of KNB and bring to them the CNB experience.”
Larry Haire, President and CEO of Kilgore National Bank added, “Kilgore National Bank was created as
a de novo charter in the latter part of 2000. Kilgore National Bank is truly a locally owned community
bank with 154 local investors including Citizens National Bank. Our goal then and now is to provide the
highest level of personalized customer service along with the best up-to-date technology for everyone’s
convenience. Citizens National Bank shares that philosophy and is a rapidly growing institution with
which we are proud to partner. This merger creates a great opportunity for our shareholders and a
much larger banking network for our customers.”
Subject to regulatory approval, the transaction is expected to close during the 3rd quarter of 2016.
Mike Keeley of Norton Rose Fulbright served as legal advisor to Citizens National Bank. SAMCO Capital
Markets, Inc. advised Kilgore National Bank, with Jacob Thompson serving as lead financial advisor. Mark
Haynie of Haynie Rake Repass & Klimko, PC served as legal advisor to Kilgore National Bank.
About Citizens National Bank:
Citizens National Bank was established in 1930, and is a $1.7 billion community bank that serves East
and Central Texas with its network of 28 conveniently located branches. Throughout its existence,
Citizens National Bank has remained committed to providing excellent personal service with the latest
in financial products and services. Citizens National Bank was named one of the Best Companies to
Work for in Texas for the second year in 2015 by Texas Monthly Magazine. Citizens National Bank is
found online at www.cnbtexas.com.
About Kilgore National Bank:
Kilgore National Bank was established in 2000 in Kilgore, Texas by a group of local businessmen and
long-time Kilgore residents. Headquartered at 410 North Kilgore Street, Kilgore National Bank offers a
full range of banking services to its customers through its talented team of seasoned bankers. Kilgore
National Bank can be found online at www.kilgorenb.com.
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April 7, 2016
FOR IMMEDIATE RELEASE – Continued
This press release does not constitute an offer to sell or a solicitation of an offer to buy any
securities, nor shall there be any sale of these securities in any jurisdiction in which such an offer,
solicitation, or sale would be unlawful prior to registration or qualification under the securities
laws of any such jurisdiction. The offering may be made only by means of an proxy statement-offering
circular. Kilgore National Financial Corporation shareholders will receive a copy of the proxy statementoffering circular. Henderson Citizens Bancshares, Inc. common stock are not deposits and are neither
insured nor approved by the FDIC or any other bank regulatory agency. The securities are being offered
pursuant to an exemption from registration under the Securities Act of 1933 provided by Section 3(a)(11)
of such act.
Caution about Forward-Looking Statements. This press release contains forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include
but are not limited to statements about the combined bank’s plans, objectives, estimates, intentions,
and expectations as to future trends, plans, events or results of the Company’s operations and policies
and regarding general economic conditions. These forward-looking statements are based on current
beliefs that involve significant risks, uncertainties and assumptions. Because of these uncertainties and
the assumptions on which the forward-looking statements are based, actual future operations and
results in the future may differ materially from those indicated herein. Readers are cautioned against
placing undue reliance on any such forward-looking statements. For details on factors that could affect
these expectations, see the risk factors and other cautionary language included in the offering circular.
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