SOURCE: North Dallas Bank & Trust Co.

North Dallas Bank & Trust Co.

January 21, 2016 12:38 ET

N.D.B. Company Inc. Trusteed Affiliate of North Dallas Bank & Trust Co. Announces Plan of Liquidation and Dissolution

DALLAS, TX--(Marketwired - January 21, 2016) - N.D.B. Company Inc. (the Company), a Texas corporation, has announced that the Company's Board of Directors has unanimously approved a plan of liquidation and dissolution of the Company. The outstanding shares of the Company are held in trust for the benefit of the shareholders of North Dallas Bank & Trust Co. (the Bank) (OTCBB:NODB). If the Plan is approved by the Trustees and a 2/3 total vote of the beneficial interest owners, the Company plans to make a one-time distribution of cash proceeds, if any, from the liquidation of the Company's assets after provisions for the Company's liabilities to the shareholders of record of the Bank at the date of distribution. The Company is currently unable to predict the time required to complete the plan or the precise timing or amount of any distribution pursuant to the plan.

North Dallas Bank & Trust Co. is an independent bank established in 1961 with current locations in Dallas, Plano, Irving, Frisco and Addison, Texas. Any forward-looking implications derived from this information may differ materially from actual results. Please direct any questions to Sam Renshaw, Vice Chairman and CFO. 

Contact Information

  • Sam Renshaw
    Vice Chairman and CFO