East Texas Financial Services, Inc. (“ETFS”) (OTCBB:FFBT) announced today that on April 18, 2012, stockholders approved the merger agreement by and between Prosperity Bancshares, Inc. (“Prosperity”) and ETFS, whereby ETFS will be merged with and into Prosperity. The companies now intend to move forward to complete the merger as quickly as possible.
ETFS is the holding company for First Federal Bank Texas, a federal savings bank based in Tyler, Texas. First Federal Bank Texas, which was founded in 1923, operates from four office locations in Tyler and Gilmer, Texas.
Derrell Chapman, 903-593-1767
President and Chief Executive Officer