1st Centennial Bancorp Announces Successful Completion of Stock Offering of Its Common Stock.Business Editors REDLANDS, Calif.--(BUSINESS WIRE)--May 22, 2003 1st Centennial Bancorp (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :FCEN FCEN Facultad de Ciencias Exactas y Naturales (Spanish) FCEN Financial Crimes Enforcement Network ) today announced that it has successfully completed its recent stock offering in less than five weeks. The offering commenced on April 18, 2003 (the effective date of the registration statement filed with the SEC in connection with the offering) and covered 225,000 shares of common stock at $23 per share, all of which were offered directly by 1st Centennial. Assisting 1st Centennial in its selling efforts was Western Financial Corp., which acted as 1st Centennial's standby placement agent. 1st Centennial will use the net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). from the offering for general working capital purposes. 1st Centennial Bancorp (formerly Centennial First Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. ) is a bank holding company with headquarters in Redlands. It is the parent company of 1st Centennial Bank (formerly Redlands Centennial Bank). 1st Centennial Bank is an independent California state-chartered bank, which commenced operations in 1990. Including its main office and corporate headquarters in Redlands, it operates four full-service banking offices, one each in San Bernardino San Bernardino, city, United States San Bernardino (săn bûr'nədē`nō), city (1990 pop. 164,164), seat of San Bernardino co., S Calif., at the foot of the San Bernardino Mts.; inc. 1854. , Riverside, San Diego and Orange Counties in Southern California. It also operates a real estate and construction loan division in Redlands. In addition, 1st Centennial Bank has loan production offices, specific to commercial real estate conduit sales and Small Business Administration government-guaranteed lending, located in Brea, Calif., Salt Lake City and Flagstaff Flagstaff, city (1990 pop. 45,857), seat of Coconino co., N Ariz., near the San Francisco Peaks; inc. 1894. Lumbering, ranching, and a lively tourist trade thrive in the region, where many ruined pueblos, numerous state parks, several lakes, and large pine forests , Ariz. Additional information is available on the Internet at www.1stcent.com or by contacting Beth Sanders, executive vice president and chief financial officer at bsanders@1stcent.com. |
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