SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* BANCO BILBAO VIZCAYA ARGENTARIA, S.A. (Last) (First) (Middle) PLAZA SAN NICOLAS 4 (Street) 48005 BILBAO, SPAIN U3 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol State National Bancshares, Inc. [ SNBI ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director X 10% Owner Officer (give title below) Other (specify below)
	3. Date of Earliest Transaction (Month/Day/Year) 01/03/2007
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	01/03/2007		J(1)(2)		0(1)(2)(3)(4)	D	$0.00(1)(2)(3)(4)	0(1)(2)(3)(4)	I(1)(2)(3)(4)	See footnotes(1)(2)(3)(4)
Common Stock	01/03/2007		J(5)		1,000	A	(5)	1,000	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Banco Bilbao Vizcaya Argentaria, S.A. ("BBVA") filed a Form 3 with the Securities and Exchange Commission on June 22, 2006 because BBVA may have been deemed to be a beneficial owner pursuant to Section 13(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), of 5,243,654 shares (the "Shares") of common stock of State National Bancshares, Inc. ("SNBI") that were subject to a Voting Agreement, dated as of June 12, 2006, entered into by BBVA with each of Castle Creek Capital, LLC, Franklin Mutual Advisers, LLC, Gary J. Fletcher, Rick J. Calhoon, James A. Cardwell, John M. Eggemeyer, III, H. Gil Moutray, Tom C. Nichols, Ben B. Stribling and F. James Volk (the "Voting Agreement") in connection with the Agreement and Plan of Merger, dated as of June 12, 2006, by and between BBVA and SNBI (the "Merger Agreement").

2. For additional information regarding the Voting Agreement and the Merger Agreement, see the Schedule 13D filed by BBVA with the Securities and Exchange Commission on June 22, 2006, as amended by Amendment No. 1 to the Schedule 13D filed with the Securities and Exchange Commission on the date hereof. On January 3, 2007, the transactions contemplated by the Merger Agreement were consummated. As a result of the merger of Newco Aspen, Inc., a Texas corporation and a wholly owned subsidiary of BBVA, with and into the Company (the "Merger") pursuant to the Merger Agreement, all the existing shares of the Company's common stock were cancelled, and BBVA's shares in Newco Aspen were converted into 1,000 shares of the Company's common stock. The Voting Agreement expired at the effective time of the Merger (7:00 a.m. Central Standard Time on January 3, 2007).

3. The Shares included 290,000 shares of common stock of SNBI subject to stock options. BBVA included these Shares in its calculation of the number of Shares that may have been deemed to be beneficially owned by BBVA in connection with the Voting Agreement because BBVA did not have information about which of such options were exercisable within 60 days.

4. BBVA disclaimed beneficial ownership of the Shares and the Form 3 BBVA filed on June 22, 2006 shall not be deemed an admission that BBVA is the beneficial owner of the Shares for purposes of Section 16 of the Exchange Act or for any other purpose. BBVA had no "pecuniary interest" in the Shares.

5. At the effective time of the Merger, Newco Aspen was merged with and into the Company. As a result of the Merger, the outstanding shares of the Company's common stock were cancelled and converted into the right to receive $38.50 per share in cash, without interest, the outstanding options to acquire the Company's common stock were cancelled and converted into the right to receive an amount in cash equal to the excess, if any, of the mean between the highest and lowest selling price quoted on the Nasdaq National Market for a share of SNBI common stock on the last trading day prior to the effective time of the Merger over the exercise price per share of each such option, without interest, and BBVA's shares in Newco Aspen were converted into 1,000 shares of the Company's common stock, representing all of the shares of the Company's common stock issued and outstanding. The aggregate consideration paid by BBVA in the Merger was approximately $483.7 million.

	/s/ Javier Malagon Navas, Authorized Representative of Banco Bilbao Vizcaya Argentaria, S.A.	01/03/2007
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.