Centennial Bancorp Announces Special Meeting of Shareholders to Approve Increase in Authorized Common Stock.EUGENE, Ore.--(BUSINESS WIRE)--Sept. 24, 1997--Centennial Bancorp (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CEBC CEBC Center for Ethical Business Cultures (University of St. Thomas) CEBC Consulting Engineers of British Columbia CEBC Centre d'Études Biologiques de Chize CEBC Conselho Empresarial Brasil-China CEBC Centre For Evidence-Based Conservation ) today announced that it has called a special meeting of its shareholders for the purpose of approving an amendment to Bancorp's Articles of Incorporation The document that must be filed with an appropriate government agency, commonly the office of the Secretary of State, if the owners of a business want it to be given legal recognition as a corporation. to increase the number of authorized shares Authorized shares Number of shares authorized for issuance by a firm's corporate charter. of common stock from 10 million to 50 million shares. Richard C. Williams, 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. of Bancorp, said, "Most of the 10 million shares of common stock currently authorized have been issued or are reserved for issuance. We think the proposed increase in authorized common stock is necessary to ensure that we have enough shares available to meet our future capital, growth and corporate needs. At this time, we do not have any agreements or understanding to issue any of the additional shares." The shareholder meeting will be held at the Hilton Hotel in Eugene at 3 p.m. local time on Oct. 29, 1997. Only shareholders of record as of the close of business on Sept. 17, 1997, will be entitled to receive notice of, and to vote at, this meeting. Centennial Bancorp is a bank holding company organized in 1981 with two principal subsidiaries, Centennial Bank and Centennial Mortgage Co. Centennial Bank operates 11 banking offices, six in the Portland area, four in the Eugene/Springfield area, and one in Cottage Grove Cottage Grove, village (1990 pop. 22,935), Washington co., SE Minn., near the St. Croix River; inc. 1965. There is farming (cattle, sheep, corn, and soybeans) and manufacturing (chemicals and machinery). . Centennial Bank also has received regulatory approval to open a branch in Hillsboro. Centennial Mortgage has offices in Eugene and Tigard. For additional information, please contact Richard C. Williams or Michael J. Nysingh at 541/342-3970. CONTACT: Centennial Bancorp Richard C. Williams or Michael J. Nysingh 541/342-3970 |
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