VALLICORP AND PACIFIC POSTPONE THE MERGER VOTE
VALLICORP AND PACIFIC POSTPONE THE MERGER VOTE FRESNO, Calif., Aug. 31 /PRNewswire/ -- ValliCorp Holdings, Inc.
(NASDAQ-NMS: VALY) and Pacific Bancorporation (NASDAQ-NMS: PABC) today jointly announced that the shareholder vote of the respective companies relating to their proposed merger, originally scheduled to take place at the respective companies' annual meetings on Sept. 21, 1992, has been postponed. The postponement occurred because of unexpected delays in completing the joint proxy statement related to the shareholder vote on the merger. The board of directors of Pacific has rescheduled their annual meeting -- which will include a shareholder vote on the merger -- for Nov. 16, 1992. ValliCorp's board of directors anticipates it will call a special stockholders' meeting to vote on the proposed merger timed to coincide with Pacific's annual meeting date. Prior to the meetings, Vallicorp and Pacific will mail appropriate notices to shareholders regarding the date and time along with the related proxy materials.
ValliCorp Holdings, Inc. is a $430 million multibank holding company with two bank subsidiaries: Bank of Fresno and Merced Bank of Commerce. ValliCorp is California's largest regional independent bank holding company headquartered in Fresno in California's San Joaquin Valley. The company's common stock is traded on the NASDAQ National Market System under the symbol VALY. Pacific currently has assets of $197 million and is also headquartered in Fresno although its primary subsidiary, Community First Bank, is headquartered in Bakersfield. Pacific has 18 branches throughout the San Joaquin Valley. Pacific stock is traded on the NASDAQ National Market System under the symbol PABC. -0- 8/31/92 /CONTACT: Wolfgang T.N. Muelleck vice president, CFO of ValliCorp, 209-221-4427; or Henry Wheeler, president and CEO, Pacific Bancorporation 209-221-7381; or Gary Strong, Nick Farina 312-266-7800 or Lillian Armstrong 415-986-1591, both of The Financial Relations Board, for ValliCorp and Pacific Bancorporation/ (VALY PABC) CO: ValliCorp Holdings, Inc.; Pacific Bancorporation ST: California IN: FIN SU:
TS -- NY030 -- 4879 08/31/92 10:29 EDT
|Printer friendly Cite/link Email Feedback|
|Date:||Aug 31, 1992|
|Previous Article:||EDS SELECTS TEXAS INSTRUMENTS' IEF(TM), I-CASE SOLUTION FOR APPLICATION SOFTWARE DEVELOPMENT|
|Next Article:||AVONDALE INDUSTRIES, INC. SHIPYARDS DIVISION CONTRACT MODIFICATION APPROVED BY U.S. NAVY|