Allegiant Bancorp, Inc. to Acquire Investment Counselors, Incorporated.Business Editors ST. LOUIS--(BUSINESS WIRE)--July 31, 2002 Allegiant al·le·giance n. 1. Loyalty or the obligation of loyalty, as to a nation, sovereign, or cause. See Synonyms at fidelity. 2. The obligations of a vassal to a lord. Bancorp, Inc. (Nasdaq:ALLE ALLE Alberta Language Learning Environment (University of Calgary, Canada) ) today announced it has signed a Definitive Agreement to acquire Investment Counselors, Incorporated. Investment Counselors, Incorporated will become a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Allegiant Bancorp, Inc. and will be renamed Allegiant Investment Counselors. The transaction is expected to be completed by the fourth quarter of 2002, subject to regulatory approvals. Investment Counselors total consideration will be shares of Allegiant Bancorp stock. The transaction is expected to be accretive by 2004. Investment Counselors, Incorporated is a privately held investment advisory firm located in St. Louis, Missouri. It has been serving institutional and high net worth individuals in the Midwest since 1968. "The acquisition of Investment Counselors, Incorporated presents a unique opportunity for Allegiant Bancorp, Inc. to obtain a St. Louis-based team of portfolio professionals to serve as our platform for investment advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal . Upon completion of this transaction our rapidly growing Wealth Management division will have Trust and Investment advisory assets in excess of $800 million. This is consistent with our strategy of focusing on the growth of non-interest income," said Shaun R. Hayes, president and chief executive officer of Allegiant Bancorp. "Investment Counselors has a commitment to its customers and the St. Louis community that is closely aligned with our own." "The combination of Investment Counselors, Incorporated and Allegiant Bancorp builds on the strengths of two St. Louis institutions. Investment Counselors is now in its fourth decade of providing professional investment advice to individuals, endowments, institutions and employee benefit plans. Allegiant Bancorp is a broadly based financial institution with solid management and resources," said Patrick M. Donelan, chairman and chief executive officer of Investment Counselors. "They share our St. Louis values and our commitment to outstanding customer service." "The continuity offered Investment Counselors, Incorporated in this combination with Allegiant Bancorp enables us to keep our staff and our unique investment process together as a wholly owned subsidiary of Allegiant," said Gordon A. Johnson, president and chief investment officer of Investment Counselors, Incorporated. Allegiant Bancorp, Inc. is the parent company of Allegiant Bank, Bank of Ste. Genevieve Ste. Genevieve can refer to:
Certain statements in this report relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc present or future trends or factors affecting the banking industry and specifically, the operations, markets and products of Allegiant Bancorp, Inc. may be deemed to be forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Allegiant's actual strategies and results in future periods may differ materially from those currently expected due to various risks and uncertainties. Additional discussion of factors affecting Allegiant's business and prospects is contained in Allegiant's periodic filings with the Securities and Exchange Commission. Allegiant undertakes no obligation to report revisions to these forward-looking statements or reflect events or circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or after the date of release. |
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