Printer Friendly

COASTAL BANC SAVINGS ASSOCIATION ANNOUNCES REGISTRATION STATEMENT FOR IPO

 COASTAL BANC SAVINGS ASSOCIATION ANNOUNCES
 REGISTRATION STATEMENT FOR IPO
 HOUSTON, March 25 /PRNewswire/ -- Coastal Banc Savings Association (NASDAQ: CBSA) today announced that its registration statement for an initial public offering became effective today. Of the 2,250,000 shares being offered at $12.50 per share, 2,061,384 shares were offered by the association and the remainder were offered by certain selling stockholders. In addition, the association has granted the underwriters a 30-day option to purchase up to 337,500 additional shares.
 The offering is being managed by Kidder, Peabody & Co. Incorporated and Wertheim Schroder & Co. Incorporated.
 Proceeds from the offering will be used for general corporate purposes and to increase Coastal Banc's total capital to support further acquisitions, including acquisitions of financial institutions or branch offices thereof from the federal government or other financial institutions.
 Coastal Banc Savings Association is a Texas-chartered, Federally insured savings and loan association headquartered in Houston. It operates 16 branch offices in metropolitan Houston and the more rural areas west and southwest of Houston. At Dec. 31, 1991, Coastal Banc had assets of $1.030 billion and deposits of $608.6 million.
 This announcement does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these shares in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 Copies of the prospectus relating to the offering may be obtained from Kidder, Peabody & Co. Incorporated, 10 Hanover Square, New York, N.Y. 10005, or Wertheim Schroder & Co. Incorporated, 787 Seventh Avenue, Equitable Center, New York, N.Y. 10019.
 -0- 3/25/92
 /CONTACT: Manuel J. Mehos of Coastal Banc Savings, 713-623-2600, or Karen Fox of Churchill Group, 713-781-0020/
 (CBSA) CO: Coastal Banc Savings Association ST: Texas IN: FIN SU: OFR


TS -- NY040 -- 1506 03/25/92 12:10 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 25, 1992
Words:321
Previous Article:PILLSBURY NAMES LUIS J. DE OCEJO SENIOR VICE PRESIDENT OF HUMAN RESOURCES
Next Article:DAMES & MOORE ANNOUNCES THE INITIAL PUBLIC OFFERING OF 5.75 MILLION SHARES OF COMMON STOCK
Topics:


Related Articles
COASTAL BANC SAVINGS ASSOCIATION FILES REGISTRATION STATEMENT FOR INITIAL PUBLIC OFFERING
COASTAL BANC SAVINGS ASSOCIATION COMMENTS ON USA TODAY REPORT
COASTAL BANC SAVINGS ASSOCIATION REPORTS INCOME
FIRST LIBERTY FINANCIAL CORP. TO OFFER CONVERTIBLE PREFERRED STOCK
COASTAL BANC SAVINGS ASSOCIATION BOARD OF DIRECTORS ELECTS PHILIP J. BARBER AS VICE CHAIRMAN OF THE BOARD
COASTAL BANC SAVINGS ASSOCIATION ACQUISITIONS TO INCREASE DEPOSIT BASE BY $440 MILLION
COASTAL BANC SAVINGS ASSOCIATION COMPLETES ACQUISITION OF GUARDIAN SAVINGS BRANCHES
COASTAL BANC SAVINGS FILES REGISTRATION STATEMENT FOR PREFERRED STOCK
COASTAL BANC SAVINGS PREFERRED STOCK OFFERING DECLARED EFFECTIVE
COASTAL BANC SAVINGS INITIATES COMMON STOCK CASH DIVIDEND POLICY

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