NEWS

LIVINGSTON, TX, March 9, 2023, East Texas Bancshares, the parent company of First National Bank of Jasper and First State Bank of Livingston,

announced today the proposal to merge the two banks into one under the First State Bank of Livingston (First State Bank) name.
With a combined asset size of over $700M, the merger will position the combined Bank to invest in additional resources such as technology and

increase operational efficiencies. We are excited about this merger and the benefits it will create for our customers. As a combined bank, our focus

will be on continuing to provide excellent customer service and offering competitive banking services and products.

First National Bank of Jasper is a full-service community bank and for over 50 years has been serving the Deep East Texas region. First National Bank of Jasper has three locations in Jasper, TX (headquarters), Woodville, TX, and in Buna, TX. Upon completion of the merger, First National Bank of Jasper plans to keep all branches open under the First State Bank name.

“We are very excited to partner with our sister bank, FSB Livingston and we feel strongly that our customers and communities we service are really going to benefit from this merger. This is a true merger whereas our ownership and leadership of the banks is not changing while at the same time we are combining the best of our highly respected community banks to better serve our customers,” said Stephen Ernest, President and CEO of First National Bank of Jasper. “Though it will be an adjustment to get used to the First State Bank name, we will work hard during this transition to ensure our customers continue to receive the personalized customer service they have come to expect over the years.”

Founded in 1910, originally named Guaranty State Bank, First State Bank, is a full-service community bank also serving the East Texas region with four locations: two in Livingston, TX, one in Onalaska, TX, and one in Shepherd, TX. According to Robert Sebaugh, President and CEO of First State Bank of Livingston, ”We see this as a long-term win for both the First National Bank of Jasper and our First State employees and customers since it gives us a stronger position to continue our great work in the market, take advantage of being a little larger and more efficient, while continuing to deliver quality customer service.

Upon closing of the transaction, the combined Bank will be led by Robert Sebaugh who will maintain the Chief Executive Officer position and by Stephen Ernest as President. The board seats of the combined bank will be made up of the current board members from both First National Bank of Jasper and First State Bank. The proposed transaction has been approved by the board of directors at both banks and is subject to regulatory approval. Regulatory approval is expected later this year.

First National Bank of Jasper is a full-service community bank serving communities in the Eastern Texas region with branches in Jasper, Woodville, and Buna. First National Bank of Jasper is a member of FDIC and an Equal Housing Lender. For more information, visit www.fnbjasper.bank.

First State Bank of Livingston is a full-service community bank serving the Eastern Texas region with 2 branches in Livingston, Onalaska, and Shepherd. First State Bank of Livingston is a member of FDIC and an Equal Housing Lender. For more information, visit www.fsblivingston.bank.