Harris Law Firm PC represents banks, thrifts, related financial institutions, and their investors in regulatory and corporate matters.  Large and small institutions turn to the firm for help with regulatory compliance, product development, corporate governance, enforcement matters, capital raising, and M&A transactions.

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HARRIS LAW FIRM PC REPRESENTS SELLER IN 2009's FIRST TEXAS BANK DEAL

Austin, Texas, May 4, 2009.  Austin Bancshares, Inc. (“Austin Bancshares”) and La Grange Bancshares, Inc. (“La Grange”), a bank holding company, jointly announce the signing of an agreement that provides for Austin Bancshares to acquire La Grange and its wholly owned banking subsidiary, Colorado Valley Bank, SSB. (“Colorado Valley”), a Texas state savings bank, headquartered in La Grange, Texas.  Colorado Valley is a community financial institution with approximately $30 million in assets and locations in La Grange and Weimer, Texas.

Joseph A. Mihatsch, Jr., Chairman and CEO of La Grange said, “We believe the merger with Austin Bancshares presents a great opportunity for our customers, shareholders and employees.  Our banking groups have common goals and business philosophies and we are confident this will lead to a seamless transition.”

Austin Bancshares will continue to offer through Colorado Valley consumer and business loan and deposit products as well as expanded financial services, including internet banking, mortgage banking, and commercial lending.

The transaction, which is subject to regulatory and shareholder approvals, is expected to be completed during the third quarter of 2009.

Harris Law Firm PC served as legal adviser to La Grange, with T. Alan Harris acting as lead attorney, while The Carson Medlin Investment Bankers served as financial adviser, with Daniel T. Bass and Paul J. Stephens acting as lead bankers.  Bracewell & Giuliani, LLP served as legal adviser to Austin Bancshares.

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