Comstock Bancorp Stock Will Resume Trading Under Symbol LODE on NASDAQ Beginning July 7th.RENO, Nev.--(BUSINESS WIRE)--July 3, 1997--Comstock 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 : LODE lode, deposit of ore. ) today announced its stock will resume trading under the NASDAQ symbol LODE beginning July 7, 1997. The Bancorp stock was temporarily traded under the symbol LODED following the Bank's conversion into a holding company on June 16, 1997. On June 6, 1997 the Bank announced that at its annual shareholder's meeting, the shareholders approved the purchase of Comstock Bank shares by the newly formed holding company, Comstock Bancorp. Shareholders of record on June 15, 1997 received two shares of the holding company stock for each share of Comstock Bank, effective June 16, 1997. Following the conversion, the Bancorp's stock temporarily traded under the symbol LODED to avoid confusion with Comstock Bank shares. Comstock Bank operates four full service branches in Reno and Carson City Carson City, city (1990 pop. 40,443), state capital, W Nev., in the Eagle valley; inc. 1875. The city is a trade center for a mining and agricultural area. State government is the major employer, and tourism is economically important. and additional lending centers Reno and Minden/Garnerville. A fifth branch is scheduled to open in late July. The Bank ended the first quarter with $157 million in assets and $13.3 million in shareholders' equity Shareholders' Equity A firms' total assets minus its total liabilities. Equivalently, it is share capital plus retained earnings minus treasury shares. Shareholders' equity is the amount by which a company is financed through common and preferred shares. . The book value of the shareholders' equity was $6.25 on March 31, 1997, up 17.5% from $5.32 per share a year earlier. On July 2, 1997, the stock closed the trading day In Business, the trading day is the time span that a particular stock exchange is open. For example, the New York Stock Exchange is, as of 2006, open from 09:30AM to 4:00PM. Trading days never take place on weekends. at $7.00 per share. CONTACT: Comstock Bank Robert Barone, 702/828-6477 |
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