EXHIBIT "99"
{GRAPHIC-LOGO] EAST TEXAS FINANCIAL SERVICES, INC.
_________________________________________________________________
1200 South Beckham - P.O.Box 6910 - Tyler, TX 75711-6910 -
903-593-1767 - Fax 903-593-1094
NEWS RELEASE
For verification, contact: Gerald W. Free, President and CEO
Derrell W. Chapman, Vice President/COO/CFO
Telephone: (903) 593-1767
Fax: (903) 593-1094
For immediate release, January 22, 1997
- --------------------------------------------------------------------------------
EAST TEXAS FINANCIAL SERVICES, INC.
DECLARES CASH DIVIDEND
Tyler, Texas, January 22, 1997, - - - East Texas Financial Services, Inc.
(NASDAQ: ETFS), the holding Company for First Federal Savings and Loan
Association of Tyler, Texas, today has announced that the Company has declared a
cash dividend of $0.05 per share for the quarter ended December 31, 1996. The
dividend will be payable on February 26, 1997, to stockholders of record as of
February 12, 1997.
As of December 31, 1996, the Company had outstanding 1,079,285 shares of stock.
Shares of the Company's stock traded between $14.75 and $16.50 per share during
the quarter ended December 31, 1996, and reached an all time high of $18.75 per
share in the past two weeks.
First Federal Savings and Loan Association serves primarily Smith County, Texas,
through its two full service retail banking offices located in Tyler and
Whitehouse and its loan production office located in Tyler.
The Company's stock is traded under the symbol "ETFS" on the NASDAQ National
Market System and is listed in most daily newspapers as "EastTxFnl".
- END -
Serving the Financial Needs of East Texas