Federal Reserve, FDIC, approve bank holding company.PEWAUKEE, Wis adv. 1. Certainly; really; indeed. v. t. 1. To think; to suppose; to imagine; - used chiefly in the first person sing. present tense, I wis. See the Note under Ywis. .--(BUSINESS WIRE)--June 5, 1997--The Federal Reserve Bank of Chicago The Federal Reserve Bank of Chicago is one of twelve regional Reserve Banks that, along with the Board of Governors in Washington, D.C. has approved the plan to form InvestorsBancorp, Inc., a bank holding company being developed by Bando McGlocklin Capital Corporation (NADSAQ:BMCC BMCC bulk milk cell counts. ), and the Federal Deposit Insurance Corporation Federal Deposit Insurance Corporation (FDIC), an independent U.S. federal executive agency designed to promote public confidence in banks and to provide insurance coverage for bank deposits up to $100,000. (FDIC FDIC See: Federal Deposit Insurance Corporation FDIC See Federal Deposit Insurance Corporation (FDIC). ) has agreed to extend insurance coverage to depositors in the proposed InvestorsBank. George R. Schonath, chairman and chief executive officer of Bando McGlocklin who also will serve as president of InvestorsBancorp, said the Federal Reserve and the FDIC actions are the last major approvals required to move ahead with the bank holding company and its operating subsidiary An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. , InvestorsBank. The Wisconsin Department of Financial Institutions already has given preliminary approval to operate InvestorsBank under a state charter. "We now plan to open InvestorsBank the week of July 7," said Schonath. "When our plan to spin off shares of InvestorsBancorp to shareholders of Bando McGlocklin is approved by the Securities and Exchange Commission later this month, we will be able to announce the timetable for the distribution of the bank holding company shares." Founded in 1980, Bando McGlocklin Capital Corporation operates two subsidiaries. Bando McGlocklin Small Business Lending Corporation makes real estate loans to small businesses. Bando McGlocklin Investment Corporation has investments in two manufacturing companies. Certain matters discussed in this press release are "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " intended to qualify for the safe harbors 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. from liability established by 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. These forward-looking statements can generally be identified as such because the context of the statement will include words such as the company "believes," "anticipates," "expects" or words of similar import. Similarly, statements that describe the company's future plans, objectives or goals are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties which are described in close proximity to such statements and which could cause actual results to differ materially from those currently anticipated. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are only made as of the date of this press release and the company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. Bando McGlocklin Capital Corp. news releases are available on-line 24 hours a day at: http://www.businesswire.com/cnn/bmcc.htm CONTACT: Bando McGlocklin Capital Corporation George R. Schonath or Susan Hauke, 414/523-4300 |
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