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FOURTH FINANCIAL ANNOUNCES TERMS OF CONVERTIBLE PREFERRED STOCK OFFERING; INCREASES SIZE TO $87.5 MILLION

FOURTH FINANCIAL ANNOUNCES TERMS OF CONVERTIBLE PREFERRED STOCK OFFERING;
 INCREASES SIZE TO $87.5 MILLION
 WICHITA, Kan., Feb. 14 /PRNewswire/ -- Fourth Financial Corp. (NASDAQ-NMS: FRTH) announced today that it has increased its public offering of 3 million to 3.5 million depositary shares, each representing a 1/16th interest in a share of a new issue of the company's Class A cumulative convertible preferred stock. The depositary shares were priced at $25 per share, with an annual dividend rate of $1.75 per share to yield 7.00 percent. Dividends will be payable quarterly beginning June 1, 1992. The depositary shares are convertible into common shares of the company at $29.00 per share and are not redeemable prior to March 1, 1997. Proceeds from the offering, which was increased from $75 million to $87.5 million, will be added to the general funds of the company and will be used to augment the company's capital base so as to be available for acquisitions and other corporate purposes. Also, the company has granted the underwriters, Keefe, Bruyette & Woods, Incorporated; Piper, Jaffray & Hopwood Incorporated; and Stifel, Nicolaus & Company, Incorporated, an option to purchase up to an additional 500,000 depositary shares on the same terms.
 The depositary shares have been approved for quotation on the NASDAQ National Market System under the symbol "FRTHZ." Trading will commence Friday, Feb. 14, 1992.
 Fourth Financial Corp. is a bank holding company headquartered in Wichita, with total assets of $4.2 billion at Dec. 31, 1991.
 A registration statement relating to the offered securities has been filed with and declared effective by the Securities and Exchange Commission. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. A prospectus can be obtained from the underwriters.
 -0- 2/14/92
 CONTACT: Michael Shonka, senior vice president and CFO of


Fourth Financial, 316-261-4510; or Jack Queeney or Michael Arneth, 312-266-7800 (Chicago); or Regina Ryan, 212-661-8030 (New York), all of The Financial Relations Board
 (FRTH)
CO: FOURTH FINANCIAL CORP.
IN: FIN
ST: KANSAS (KS)


-- NY014 -- 9084 02/14/92
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Publication:PR Newswire
Date:Feb 14, 1992
Words:384
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