Center Financial Declares 2 for 1 Stock Split.Business Editors LOS ANGELES--(BUSINESS WIRE)--Jan. 30, 2004 Center Financial Corporation (Nasdaq:CLFC CLFC Creating Lasting Family Connections (New Hampshire) CLFC Clear Lake Fencing Club (Texas) ), the holding company of Center Bank, today announced that its Board of Directors has declared a 2 for 1 stock split of its common shares. Shareholders will receive one additional share of common stock for each share they hold of record as of the date the amendment to the company'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. affecting the split is filed with the California Secretary of State. This record date is expected to be February 17, 2004, and the split will be payable on or about March 5, 2004. Following the stock split, there will be approximately 16 million common shares outstanding and the company's authorized common stock will be increased to 40 million shares. About Center Financial Corp. Center Financial Corporation is a financial holding company formed in 2002 and is the parent company of Center Bank. Founded in 1986, Center Bank is a community bank offering a full-range of 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. . Center Bank changed its name from California Center Bank in December of 2002. It specializes in commercial and SBA SBA abbr. Small Business Administration Noun 1. SBA - an independent agency of the United States government that protects the interests of small businesses and ensures that they receive a fair share of government loans and trade finance products for multi-ethnic and small business customers. The Bank operates 13 branches throughout Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, and five Loan Production Offices located in Phoenix, Seattle, Denver, Las Vegas Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. and Washington D.C. It is one of the largest financial institutions in the nation focusing on the Korean-American community. Further information about the company can be found at www.centerbank.com. This release may contain forward-looking statements, which are included in accordance with the "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " provisions 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. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "potential," or "continue," or the negative of such terms and other comparable terminology. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. These statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ from those expressed or implied by the forward-looking statement. These factors include the following: general economic and business conditions in those areas in which the company operates; demographic changes; competition for loans and deposits; fluctuation in interest rates; risks of natural disasters related to the company's real estate portfolio; risks associated with SBA loans; changes in governmental regulation; credit quality; the availability of capital to fund the expansion of the company's business; and changes in securities markets. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion