First Commercial Bancorp Inc. Announces Registration Statement Filing for Stock Offering

Strategic Insights -

First Commercial Bancorp Inc., the holding company for First Commercial Bank, has filed a registration statement with the Securities and Exchange Commission for an offering of up to 4,110,000 shares of its common stock. The offering aims to raise up to $9,124,200 of additional capital for the company. Existing stockholders will have the opportunity to purchase 3,693,700 shares, and 417,340 additional shares will be offered to dividend holders of record on June 15, 1992, and September 14, 1992. The offering price will be determined following a one-for-two reverse stock split, and shares are expected to be traded over the counter with the symbol "FCOB".

Key Takeaways:

  • The registration statement filing covers an offering of up to 4,110,000 shares of First Commercial Bancorp Inc.'s common stock.
  • 3,693,700 shares will be offered to existing stockholders, and 417,340 additional shares will be offered to dividend holders of record on specific dates.
  • The offering aims to raise up to $9,124,200 of additional capital for the company.
  • A one-for-two reverse stock split is planned to occur before the offering commences.
  • First Commercial Bancorp Inc. shares are traded over the counter with the symbol "FCOB".
  • The company is an independent bank headquartered in Sacramento, Calif., and a member of the Federal Deposit Insurance Corp.
  • The Securities and Exchange Commission will determine the effective date for the registration statement, after which the company may begin offering the securities.

Statistics:

  • Up to 4,110,000 shares of common stock may be offered.
  • The offering aims to raise up to $9,124,200 of additional capital.
  • 3,693,700 shares will be offered first to existing stockholders.
  • 417,340 additional shares will be offered in exchange for dividends owed to company stockholders.
  • The offering is contingent on a one-for-two reverse stock split.

Sources:

  • First Commercial Bancorp Inc. (Business Wire, June 1, 1995)
  • Manuel Perry Jr., Chairman of the Board of Directors (First Commercial Bancorp Inc.)
  • First Commercial Bank (founded in 1979)
  • NASDAQ's National Market System
  • Securities and Exchange Commission
  • Federal Deposit Insurance Corp.
  • Michele McCormick, First Commercial Bancorp Inc. (Contact)