REPUBLIC BANCORP REGISTRATION DECLARED EFFECTIVE BY SEC
REPUBLIC BANCORP REGISTRATION DECLARED EFFECTIVE BY SEC ANN ARBOR, Mich., April 15 /PRNewswire/ -- Republic Bancorp Inc.
(NASDAQ-NMS: RBNC) announced today that its registration statement relating to a public offering of 1,200,000 shares of common stock at a price of $7.25 per share was declared effective on April 14, 1992, by the Securities and Exchange Commission. Of the shares being offered, 1,193,733 shares are being offered by the company and 6,267 shares are being offered by selling shareholders. The company and selling shareholders have granted the underwriters options to purchase up to an additional 180,000 shares to cover over-allotment options. Keefe, Bruyette & Woods, Inc., First of Michigan Corporation, and Roney & Co. are co-managers for the offering.
Net proceeds of the offering may be used for one or more of the following: to redeem the company's convertible preferred stock and convertible debentures, to retire long-term debt, to expand mortgage banking operations and activities of the company's existing subsidiaries, and for general corporate purposes, including possible future acquisitions. Republic Bancorp Inc. is a registered bank holding company headquartered in Ann Arbor, with six banks and one mortgage company subsidiary. Through its mortgage and bank subsidiaries, the company provides a wide range of mortgage banking services. The company's bank subsidiaries also provide a limited range of commercial and retail banking services. Written prospectuses may be obtained from the offices of Keefe, Bruyette & Woods, Inc., Two World Trade Center, 85th Floor, New York, NY 10048. -0- 4/15/92 /CONTACT: David G. Stickel of Republic Bancorp Inc., 313-732-3300/ (RBNC) CO: Republic Bancorp Inc. ST: Michigan IN: FIN SU: OFR
DH -- DE013 -- 8608 04/15/92 10:43 EDT
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|Date:||Apr 15, 1992|
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