Printer Friendly

BANK SOUTH ANNOUNCES COMPLETION OF STOCK SALE

 BANK SOUTH ANNOUNCES COMPLETION OF STOCK SALE
 ATLANTA, April 10 /PRNewswire/ -- Bank South


(NASDAQ-NMS: BKSO) announced today the completion of the sale of 5 million shares of its common stock to Fox-Pitt, Kelton N.V., an international investment banking firm with offices in London and New York.
 The proceeds will be used for general corporate purposes and to enhance capital ratios.
 An agreement to sell the shares was announced March 27.
 "The completion of this sale is clearly noteworthy from a capital standpoint, and it also increases our book value per share by 13 cents," said Patrick L. Flinn, chairman and chief executive officer of Bank South.
 The per share price for the stock sold was $8.25. The 5 million shares of common stock were sold by Fox-Pitt, Kelton N.V. to institutional investors in Great Britain and continental Europe.
 Bank South is a regional bank holding company with assets of $4.4 billion and 140 banking offices throughout Georgia and northwest Florida. Shares of Bank South common stock are traded on the NASDAQ National Market System under the symbol BKSO.
 -0- 4/10/92
 /CONTACT: MEDIA: Bo Spalding, 404-529-4238, or ANALYSTS: Ralph Hutchins, 404-529-4075, both of Bank South/
 (BKSO) CO: Bank South Corporation ST: Georgia IN: FIN SU:


BR-EA -- AT010 -- 7323 04/10/92 15:19 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 10, 1992
Words:219
Previous Article:PITTWAY ACQUIRES SUBSTANTIAL INTEREST IN MICROLITE CORP.
Next Article:COMCAST'S CELLULAR SUBSIDIARY FILES REGISTRATION STATEMENT FOR $1 BILLION OF SENIOR PARTICIPATING ZERO COUPON NOTES


Related Articles
CAROLINA FIRST REPORTS RESULTS OF ANNUAL STOCKHOLDERS MEETING; ISSUES 400,000 SHARES OF CUMULATIVE CONVERTIBLE PREFERRED STOCK
METROPOLITAN FINANCIAL TO ACQUIRE EUREKA SAVINGS BANK
METROPOLITAN FINANCIAL TO ACQUIRE EUREKA SAVINGS BANK
CAROLINA FIRST ACQUIRES 12 BRANCHES IN SOUTH CAROLINA
SUNRISE FEDERAL SAVINGS BANK COMPLETES SALE OF 3,795,000 SHARES OF COMMON STOCK
PALFED ANNOUNCES SPECIAL PROVISIONS FOR LOAN ALLOWANCES AND VALUE OF WOODSIDE PLANTATION
GLENDALE FEDERAL BANK ENTERS AGREEMENTS FOR ACQUISITION OF $425 MILLION OF NEW CAPITAL
CAROLINA FIRST RAISES $23 MILLION IN NEW EQUITY
SOUTH BERGEN COMPLETES CONVERSION
The Bank Of Belton And Clemson Bank & Trust Complete The Purchase Of Three Offices From Carolina First

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