1st Colonial Bancorp Announces the Public Offering of 720,000 Shares of Common Stock
April 21 2004 - 11:19AM
PR Newswire (US)
1st Colonial Bancorp Announces the Public Offering of 720,000
Shares of Common Stock COLLINGSWOOD, N.J., April 21
/PRNewswire-FirstCall/ -- 1st Colonial Bancorp, Inc. , the holding
company for 1st Colonial National Bank, announced that it has
entered into an underwriting agreement with Ryan Beck & Co.,
Inc. ("Ryan Beck") for the sale of 720,000 shares of common stock.
The offering was priced at $10.00 per share. 1st Colonial also
granted Ryan Beck an option, exercisable for a period of 30 days,
to purchase an additional 108,000 shares to cover over-allotments,
if any. The offering is expected to close April 26, 2004. Ryan Beck
is the sole bookrunner for the offering. The offering was made
pursuant to a registration statement filed with the Securities and
Exchange Commission, which was declared effective by the SEC on
April 20, 2004. The net proceeds are expected to be approximately
$6.3 million. 1st Colonial National Bank is a locally managed
community bank located in Collingswood, New Jersey. Its services
include free personal checking, savings, money market and
certificates of deposit accounts. In addition, the bank offers
consumer and commercial loans, lines of credit, home equity loans,
ATM cards, debit cards and free telephone banking. The bank also
plans to commence offering internet banking in the third quarter of
2004. DATASOURCE: 1st Colonial Bancorp, Inc. CONTACT: Gerry
Banmiller, 1st Colonial National Bank, +1-856-858-1100
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