Printer Friendly

BARNETT BANKS SELLS 3.3 MILLION COMMON SHARES

 BARNETT BANKS SELLS 3.3 MILLION COMMON SHARES
 JACKSONVILLE, Fla., March 13 /PRNewswire/ -- Barnett Banks, Inc.


(NYSE: BBI) sold 3.3 million shares of common stock yesterday at a price of $32.25 per share.
 Proceeds will be used for general corporate purposes. The sale brings Barnett's outstanding common shares to 73 million.
 This sale adds more than $100 million to Barnett's shareholders' equity. Earlier this year, the company sold $100 million in subordinated debt, which counts as Tier 2 capital under regulatory standards.
 The company's total risk-based capital ratio, based on Dec. 31, 1991 balance sheet data, now exceeds 11 percent, compared to a regulatory requirement of 8 percent at the end of this year. Barnett's leverage ratio is approximately 5.75 percent.
 With $32.7 billion in assets and 593 offices in Florida and Georgia, Barnett is the leading financial institution in Florida and the 20th-largest in the United States. The company's stock (BBI) is listed on the New York Stock Exchange.
 -0- 3/13/92
 /CONTACT: Bob Stickler of Barnett Banks, Inc., 904-791-5437 (office) or 904-396-9284 (home)
 (BBI) CO: Barnett Banks, Inc. ST: Florida IN: FIN SU:


SS-JJ -- FL006 -- 7798 03/13/92 12:18 EST
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:Mar 13, 1992
Words:199
Previous Article:LEAD LITIGATION CONFERENCE SET FOR MAY
Next Article:GENERAL MOTORS REPORTS SALES
Topics:


Related Articles
FIRST CHICAGO REPORTS ANNUAL EARNINGS OF $116.3 MILLION; LOSS FOR FOURTH QUARTER OF $15.1 MILLION; REDUCES QUARTERLY DIVIDEND
FIRST CHICAGO REPORTS ANNUAL EARNINGS OF $116.3 MILLION; LOSS FOR FOURTH QUARTER OF $15.1 MILLION; REDUCES QUARTERLY DIVIDEND
BARNETT BANKS REGISTERS COMMON STOCK OFFERING
/FIRST AND FINAL ADD -- NY019 -- FIRST CHICAGO EARNINGS/
BARNETT RAISES QUARTERLY DIVIDEND BY 9 PERCENT TO 36 CENTS
GLENDALE FEDERAL BANK COMMENCES SOLICITATION OF CONSENTS TO RECLASSIFICATION OF SERIES B AND SERIES C PREFERRED STOCK
BARNETT OFFERS NEW OPTION TO EMERALD FUNDS INVESTORS
JMC AND BARNETT BANKS AGREE IN PRINCIPLE TO MODIFY SALES PROGRAM; JMC WILL CONSOLIDATE FLORIDA OPERATIONS
BARNETT CALLS FOR REDEMPTION OF SERIES C PREFERRED STOCK
Barnett Announces 2-For-1 Stock Split; Declares Regular Dividends

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