Press Release
Approval of the Application by Popular, Inc, and Popular International Bank, Inc
October 22, 1997

NEW YORK—The Federal Reserve Bank of New York Thursday approved the notice by Popular, Inc., and Popular International Bank, Inc., both of Hato Rey, Puerto Rico, and Popular North America, Inc., Wilmington, Delaware, to merge with Houston Bancorporation, Inc., Houston, Texas, and thereby indirectly acquire Citizens National Bank, Houston.

According to standard procedure, the proposal cannot be completed for 15 days.

The Reserve Bank acted under authority delegated by the Board of Governors of the Federal Reserve System.

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