ANB Introduces YOUR kPlan for Small Business Bank Customers : New Multiple Employer Plan Provides Affordable 401(k) Retirement Option

ROCKWALL, Texas (Business Wire EON) July 21, 2008 -- "This product is truly a first in the marketplace," said Kathy Howe, executive vice president of American National Bank of Texas. "The expense related to establishing and maintaining a traditional 401(k) can be cost prohibitive for small businesses. ANB's YOUR kPlan leverages the advantages of a multiple employer plan (MEP) without the requirements of being affiliated with an association. In fact, there are very few associations that actually offer MEPs to small businesses outside of certain profession-specific organizations. YOUR kPlan is available to any small business that holds an account with ANB, and at a cost that is around 10 percent of what a small business would spend establishing their own traditional 401(k) plan."

The annual record keeping expenses for YOUR kPlan is $250, a small percentage of what a business would pay to establish and maintain a traditional 401(k) plan. According to the 1998 Study of 401(k) Plan Fees and Expenses from the Department of Labor, the range of costs for plan set up is $500 - $3000. Those costs have increased considerably in the last 10 years.

ANB's Trust Division serves as named trustee, sponsor and fiduciary of the plan, providing oversight and monitoring the investments to ensure compliance with ERISA, DOL and IRS regulations and requirements. Investments will be offered through Nationwide Financial, the largest provider in the nation of small and medium size retirement plans. Participants can also opt for professional asset management by Portfolio Strategies Inc.

"Small businesses face many challenges, one of which is retirement planning," said Howe. "With YOUR kPlan, we can make the process of retirement planning both affordable and easy to manage for our small business customers. That ANB has remained in business for 133 years and has grown to be one of the largest independently owned banks in Texas is due in large part to its dedication to driving value to its customers and developing innovative financial and business management solutions for business clients, both large and small. This product is truly unique in that we are the first bank to offer a retirement solution customized to fit the budget and structure of a small business. Finally, small business owners will have access to large corporation benefits at an affordable price."

For more information on YOUR kPlan, visit any of ANB's 36 locations throughout the D/FW Metroplex, or visit the website at www.yourkplan.com. The ANB Trust Division is headquartered in Rockwall, Texas. For a list of ANB locations, visit www.anbtx.com.

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