Spanish Bank to Buy Texas Bank, Mortgage Sub

Published September 22, 2004, 2:00 p.m. EDT

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Updated September 22, 2004, 2:00 p.m. EDT

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Spain's Banco Bilbao Vizcaya Argentaria has agreed to buy Texas-based Laredo National Bancshares Inc. and its national residential mortgage lending subsidiary, Homeowners Loan Corp., for $850 million.BBVA's announcement about the planned purchase of the Texas company, which specializes in serving the Hispanic market along the U.S.-Mexican border, follows closely on the heels of a BBVA report indicating that the Spanish company also plans to purchase Mexico's biggest privately owned mortgage lender, Hipotecaria Nacional, for $375 million. BBVA can be found online at http://www.bbva.pt.

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