Attracting Depositors With Offers Of Stock

Cole, Jim
June 2007
American Banker;6/6/2007, Vol. 172 Issue 108, p1
Trade Publication
This article examines how the Alameda, California, based bank NorCal Community Bancorp is attempting to bring in $15 million in deposits in a period of 15 months. They aim to accomplish this by issuing preferred stock to a group of wealthy investors hoping they will invest deposits and persuade others to do the same. Those who invest in the preferred stock will receive 1.5 times their value of shares in common stock if the goal is met.


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