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SANTA CLARITA BANK FILES TO OFFER STOCK.

Byline: Daily News

SANTA CLARITA - The new Bank of Santa Clarita announced Friday that officials had filed a stock-permit application with the state Department of Financial Institutions relating to the proposed public offering of shares of its common stock to raise about $7 million.

The bank expects to start the offering before the end of the year, subject to regulatory approvals. The offering price of the shares, also subject to approval, had not been determined.

These securities may not be sold nor offers made to buy them before the permit is approved. The bank began operations in October, and as of March 31 had total assets of $31.2 million; total deposits of $18.6 million and stockholders' equity of 12.3 million.

The bank's main office is at at 27441 Tourney Road, Suite 125, Valencia. James D. Hicken is president and chief executive officer.
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Publication:Daily News (Los Angeles, CA)
Date:Jun 18, 2005
Words:145
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