Printer Friendly

SEABOARD BANCORP, INC. ANNOUNCES COMPLETION OF STOCK OFFERING

 VIRGINIA BEACH, Va., April 14 /PRNewswire/ -- Clarence W. Keel, president and chief executive officer of Seaboard Bancorp, Inc. (NASDAQ: SEAB) announced today completion of the company's combined subscription rights and community offering of common stock. By the close of business on April 13, 1993, Seaboard had received orders from shareholders exercising their subscription rights and community orders totaling 4,332,571 shares of common stock, which exceeds the 4,099,446 shares maximum, including the over-subscription allotment, set by the company. Seaboard anticipates the offering will be closed and the new shares issued next week. Seaboard Bancorp will invest the net proceeds of the offering in its wholly owned subsidiary, Seaboard Savings Bank, F.S.B. As a result the bank will be in full compliance with all regulatory capital requirements.
 Seaboard Bancorp, Inc. is a thrift holding company based in Virginia Beach which owns Seaboard Savings Bank, F.S.B. Through its network of full-service branches in Chesapeake, Portsmouth, and Virginia Beach, Va., Seaboard offers mortgage loans, consumer credit, and various deposit accounts.
 -0- 4/14/93
 /CONTACT: Clarence W. Keel, Seaboard Bancorp, Inc., 804-490-3181/
 (SEAB)


CO: Seaboard Bancorp, Inc. ST: Virginia IN: FIN SU: OFR

SB -- CH013 -- 5893 04/14/93 17:35 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 14, 1993
Words:206
Previous Article:CF BANCORP, INC. ANNOUNCES RECORD QUARTERLY PROFIT
Next Article:BULK MATERIALS, INC. PLAN OF REORGANIZATION CONFIRMED BY BANKRUPTCY COURT IN NEW YORK Largest Trucking Firm Ever to Successfully Reorganize
Topics:


Related Articles
WEST ONE BANCORP ANNOUNCES PROPOSED COMMON STOCK OFFERING
RELIANCE FEDERAL SAVINGS BANK COMPLETES CONVERSION TO STOCK SAVINGS BANK
MLF BANCORP, INC. INITIATES CASH DIVIDEND POLICY AND ANNOUNCES DECLARATION OF FIRST CASH DIVIDEND
GF BANCORP, INC. ANNOUNCES QUARTERLY DIVIDEND
AFFILIATED COMMUNITY BANCORP ANNOUNCES COMPLETION OF STOCK REPURCHASE PROGRAM
NORTHEAST INDIANA BANCORP, INC. ANNOUNCES COMPLETION OF STOCK REPURCHASE PROGRAMS
Northeast Indiana Bancorp, Inc. Announces Completion Of Stock Repurchase Program
Northeast Indiana Bancorp, Inc. Announces Completion of Stock Repurchase Program
BostonFed Bancorp, Inc. Announces the Completion of the Third 5% Repurchase Of Its Outstanding Common Stock
Alliance Bancorp of New England, Inc. Completes Reorganization as Tolland Bank's Stock Holding Company

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters