press release

Texaco Press Release - Texaco Increases Credit Facility with Minority-Owned Banks to $75 Million


WHITE PLAINS, NY., Dec. 14 - Texaco announced today that its minority bank revolving credit facility has been increased to $75 million, and is fully subscribed by a syndicate of 54 minority-owned banks throughout the country. This represents a sizeable expansion of Texaco's initial $50 million credit facility, which included 45 minority-owned banks. City National Bank of New Jersey (CNB) has again been selected as the Administrative Agent.

Texaco Inc. Treasurer Ira D. Hall noted, "This continuing initiative builds upon the strength of Texaco's existing relationships and broadens our base of suppliers with minority-owned banks. We are pleased to be working with these institutions as they provide important market driven corporate services to the community. Moreover, our association with City National Bank of New Jersey has proven to be a win-win situation for both organizations."

CNB President and Chief Executive Officer Louis E. Prezeau added, "Texaco's renewal and increase of their line of credit from $50 million to $75 million with 54 banks in over 40 cities reflects their strong commitment and support of minority and women owned financial institutions."

City National Bank of New Jersey, the State's only African-American commercial banking institution, has assets of nearly $180 million and is ranked by Black Enterprise Magazine among the top ten largest minority banks in the country.


Name Location
American Bank - Baxter Springs Baxter Springs, Kan
American State Bank - Tulsa Tulsa, Okla.
Banco Popular North America New York, N.Y.
Bank of Cherokee County Hulbert, Okla.
Boston Bank of Commerce Boston, Mass.
Carver State Bank Savannah, Ga.
Centinel Bank of Taos Taos, N.M.
Citizens Bank Nashville, Tenn.
Citizens Trust Bank Atlanta, Ga.
City National Bank of New Jersey Newark, N.J.
Commerce Bank, N.A. Laredo, Texas
Commonwealth National Bank Mobile, Ala.
Community Bank of Lawndale Chicago, Ill.
Consolidated Bank & Trust Co. Richmond, Va.
Douglass National Bank Kansas City, Kan.
East Bank, N.A. New York, N.Y.
Falcon National Bank Laredo, Texas
First American Bank Jackson, Miss.
First Independence National Bank of Detroit Detroit, Mich.
First Liberty National Bank Washington, D.C.
First National Bank and Trust Company Shawnee, Okla.
First State Bank Danville, Va.
First State Bank of Porter Porter, Okla.
First Tuskegee Bank Montgomery, Ala.
Founders National Bank of Los Angeles Los Angeles, Calif.
Gateway National Bank St. Louis, Mo.
General Bank Los Angeles, Calif.
Grand National Bank Alhambra, Calif.
Gulf Bank Miami, Fla.
Hamilton Bank, N.A. Miami, Fla.
Highland Community Bank Chicago, Ill.
Industrial Bank, N.A. Washington, D.C.
International Bank of Chicago Chicago, Ill.
International Bank of Commerce Laredo, Texas
International Bank of Commerce - Brownsville Brownsville, Texas
Legacy Bank Milwaukee, Wis.
Liberty Bank & Trust Company Boston, Mass.
Liberty Bank & Trust Company New Orleans, La.
Lumbee Bank - N.C. Pembroke, N.C.
Mechanics & Farmers Bank Durham, N.C.
Memphis First Community Bank Memphis, Tenn.
Mutual Bank Harvey, Ill.
New York National Bank Bronx, N.Y.
North Milwaukee State Bank Milwaukee, Wis.
Preferred Bank Los Angeles, Calif.
Seaway National Bank Chicago, Ill.
South Carolina Community Bank Columbia, S.C.
State Bank of Texas (Dallas) Dallas, Texas
The Adams National Bank Washington, D.C.
The Harbor Bank of Maryland Baltimore, Md.
Tri-State Bank of Memphis Memphis, Tenn.
United Bank & Trust Company New Orleans, La.
United Bank of Philadelphia Philadelphia, Pa.
Unity National Bank of Houston Houston, Texas

Updated: December 2000