Canyon National Bank Reports Approval of Bank Holding Company Reorganization.PALM SPRINGS, Calif. -- Canyon National Bank (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CYNA) today announced that the shareholders of the Bank have approved the Bank Holding Company Reorganization and the Annual Meeting of Shareholders is now adjourned and will not be reconvened on May 23, 2006. E[acute accent acute accent n. A mark (´) indicating: a. that a vowel is close or tense, as é in French été. b. that a vowel or syllable has a high or rising pitch, as in Chinese or Ancient Greek. c. ]President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Stephen Stephen, 1097?–1154, king of England (1135–54). The son of Stephen, count of Blois and Chartres, and Adela, daughter of William I of England, he was brought up by his uncle, Henry I of England, who presented him with estates in England and France and G. Hoffmann said, "We are pleased to announce the approval of the Bank Holding Company Reorganization. We expect that the reorganization will be completed by June 30, 2006, and all outstanding shares of Canyon Bank will be exchanged for an equal number of shares of Canyon Bancorp." E[acute accent]"The new holding company structure," Hoffmann continued, "provides the company with increased flexibility regarding non-bank activities along increased structural alternatives for acquisitions and alternative for raising capital and access to the debt markets. We greatly appreciate the continual show of support from our shareholders." E[acute accent]Canyon National Bank is a full-service commercial bank and member of the FDIC FDIC See: Federal Deposit Insurance Corporation FDIC See Federal Deposit Insurance Corporation (FDIC). . Palm Springs branch locations are at 1711 East Palm Canyon Drive at the Smoke Tree Village Shopping Center shopping center, a concentration of retail, service, and entertainment enterprises designed to serve the surrounding region. The modern shopping center differs from its antecedents—bazaars and marketplaces—in that the shops are usually amalgamated into and 901 East Tahquitz Canyon Way. Palm Desert branch locations are at 74-150 Country Club Drive and 77-933 Las Montanas Road across from Sun City. Shares of the bank's common stock are traded on the Over the Counter Bulletin Board -- stock symbol CYNA. E[acute accent]Further information can be obtained at the Bank's Web site: www.CanyonNational.com or via e-mail: info@CanyonNational.com or by calling Stephen G. Hoffmann, President & CEO, 760-325-4442. |
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