HEARTLAND Community Bank conversion to stock form approved.CAMDEN Camden, borough, Greater London, England Camden, inner borough (1991 pop. 170,500) of Greater London, SE England. Within the borough, residential Hampstead is popular with writers and artists. , Arkansas--(BUSINESS WIRE)--March 31, 1997--Vida H. Lampkin, President of HEARTLAND Community Bank ("HEARTLAND Community Bank" or the "Bank"). Camden, Arkansas, announced that HEARTLAND Community Bank has received approval from the Office of Thrift Supervision The Office of Thrift Supervision (OTS) was established as a bureau of the Treasury Department in August 1989 as part of a major Reorganization Plan of the thrift regulatory structure mandated by the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) (12 U.S.C.A. to convert from a federally-chartered mutual savings bank Mutual savings bank A state-chartered savings bank which is owned by its depositors and managed by a fiduciary board of trustees. to a federally-chartered stock savings bank savings bank, financial institution that, until recently, performed only the following functions: receiving savings deposits of individuals, investing them, and providing a modest return to its depositors in the form of interest. . In connection with the Conversion, the Bank has formed a holding company, HCB HCB hexachlorobenzene. Bancshares, Inc., to hold all of the outstanding capital stock of HEARTLAND Community Bank. HCB Bancshares, Inc. is offering 2,000,000 shares of its common stock, subject to adjustment, at a price of $10.00 per share. Certain account holders and borrowers of the Bank and its subsidiary, HEARTLAND Community Bank, F.S.B. (the former Heritage Bank, F.S.B.), will have an opportunity to subscribe for stock through a Subscription Offering that closes on April 23, 1997. Shares that are not subscribed for during the Subscription may be offered to the general public in a Community Offering, with first preference given to natural persons and trusts of natural persons residing in Ouachita, Calhoun, Drew, Dallas, Cleveland, Grant and Pulaski Counties, Arkansas. The Subscription Offering and Community Offering, if conducted, will be managed by Trident Securities, Inc. of Raleigh, North Carolina For other uses of this name, see Raleigh. Raleigh (IPA: /ˈrɑli/, ral-ee) is the capital of the State of North Carolina and the county seat of Wake County. . Copies of the Prospectus relating to the offerings and describing the Plan of Conversion will be mailed to customers on or about March 31, 1997. As a result of the Conversion, HEARTLAND Community Bank will be structured in the stock form as are all commercial banks and an increasing number of savings institutions and will be a wholly-owned subsidiary of HCB Bancshares, Inc. According to Ms. Lampkin, "Our day to day operations will not change as a result of the Conversion and deposits will continue to be insured by the FDIC FDIC See: Federal Deposit Insurance Corporation FDIC See Federal Deposit Insurance Corporation (FDIC). up to the applicable legal limits." Customers with questions concerning the stock offering should call HEARTLAND Community Bank's Stock Information Center at (501) 836-0203 or (800) 281-3141, or visit one of the Bank's offices. CONTACT: HEARTLAND Community Bank Stock Information Center, 501/836-0203 800/281-3141 |
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