TITLE

Attracting Depositors With Offers Of Stock

AUTHOR(S)
Cole, Jim
PUB. DATE
June 2007
SOURCE
American Banker;6/6/2007, Vol. 172 Issue 108, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
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.
ACCESSION #
25305774

 

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