1st Colonial Bancorp Announces Completion of Public Offering and Exercise of Over-Allotment Option.Business Editors COLLINGSWOOD, N.J.--(BUSINESS WIRE)--April 26, 2004 1st Colonial Bancorp, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :FCOB FCOB Flip Chip-On-Board FCOB Fisher College of Business (Ohio State University) ), the holding company for 1st Colonial National Bank The full name of the bank is National Bank of Fiji trading as Colonial National Bank. The bank is a subsidiary of Commonwealth Bank and has the largest branch network in Fiji. It also has a majority holding in one of the two merchant banks in the country. , announced that it has completed its public offering of 720,000 shares of common stock at a price of $10.00 per share. The offering was underwritten on a firm-commitment basis by Ryan Beck & Co., Inc. In addition, 1st Colonial announced that Ryan Beck & Co., Inc. had exercised its over-allotment option granted in connection with the offering, and purchased an additional 108,000 shares of the Company's common stock. Net of underwriting discounts and commissions, the Company will receive proceeds of approximately $7.7 million from the closing of the offering and the exercise of the over-allotment. The closing of the offering and the over-allotment occurred on April 26, 2004. 1st Colonial National Bank is a locally managed community bank located in Collingswood, New Jersey Collingswood is a Borough in Camden County, New Jersey, United States. As of the United States 2000 Census, the borough population was 14,326. Collingswood was incorporated as a borough by an Act of the New Jersey Legislature on May 22, 1888, from portions of Haddon . Its services include free personal checking, savings, money market and certificates of deposit accounts. In addition, the bank offers consumer and commercial loans, lines of credit, home equity loans, ATM cards, debit cards debit card, card that allows the cost of goods or services that are purchased to be deducted directly from the purchaser's checking account. They can also be used at automated teller machines for withdrawing cash from the user's checking account. and free telephone banking. The bank also plans to commence offering internet banking in the third quarter of 2004. |
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