Amegy Bank of Texas to Buy Intercontinental National Bank

SAN ANTONIO — Amegy Bank National Association and Intercontinental National Bank today announced the signing of a definitive merger agreement. Upon completion of the merger, Intercontinental Bank Shares Corporation will merge into an affiliate of Zions Bancorporation and its subsidiary, Amegy Bank of Texas.

Intercon Bank has three banking centers located across San Antonio and a history that dates back more than 40 years. At December 31, 2006, Intercon had $111 million in assets, $54 million in loans, $101 million in deposits and 30 employees. As of the same date, Amegy Bank of Texas had $10 billion in assets, $6.2 billion in loans and $7.1 billion in deposits. The acquisition is expected to close in the third quarter.

"This acquisition will provide an established network to deliver the customized banking solutions and personal service Amegy and its bankers have long been known for," said David McGee, president and CEO, Amegy Bank San Antonio. "Since we began operations here in San Antonio in January, businesses and individuals have been extremely receptive to Amegy's unique approach to banking. The addition of these three banking centers provides more convenience for our business customers and their employees and brings the capabilities of a larger bank to Intercon's customers, but with the personalized service and relationships of a community bank."

In addition to the merger with Intercon Bank, Amegy will open a new banking center along with its San Antonio headquarters in Union Square II, which is located in North Central San Antonio on the east side of Highway 281, north of Loop 410, between Jones Maltsberger and Isom roads. This banking center is expected to be operational in July.

Noted Paul B. Murphy, Jr., CEO of Amegy Bank of Texas: "Amegy Bank has made a long-term commitment to the San Antonio market. With this announcement, we are able to establish a solid foundation to build upon in Central Texas over the upcoming months and years."

"Amegy is well-respected for its customer service and incredible growth over the past 17 years," said Steven J. Pritchard, president and CEO of Intercon Bank. "Having worked with customers in the San Antonio area for many years, I believe that our customers and employees will be excited to have a bank with such diverse capabilities and a commitment to doing what's right for the customer."

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