| Ticker: ATLB | 200 State Street | |
| Exchange: NASDAQ-National Market | Boston, Massachusetts 02109 | |
| Industry: Financial | (617) 330-8585 |
| Type of Shares: | Common Shares | Filing Date: | ||
| U.S. Shares: | 1,500,000 | Offer Date: | 4/15/96 | |
| Non-U.S. Shares: | 0 | Filing Price: | $6.75 | |
| Primary Shares: | 1,500,000 | Offer Price: | $6.75 | |
| Secondary Shares: | 0 | Gross Spread: | $0.47 | |
| Offering Amount: | $10,125,000 | Selling: | $0.28 | |
| Expenses: | $836,000 | Reallowance: | $0.10 | |
| Shares Out After: | 3,791,338 |
| Manager | Tier | Phone |
| Friedman, Billings, Ramsey & Co., Inc. | Lead Manager | (703) 312-9500 |
| Auditor: Wolf & Company P.C. | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 12/31/95 | ||||
| Revenue: | $16.68 | Assets: | $163.16 | ||
| Net Income: | $2.37 | Liabilities: | $151.17 | ||
| EPS: | $1.06 | Equity: | $11.98 | ||
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| Atlantic Bank and Trust Company was organized as a Massachusetts chartered trust company in December , 1987 and commenced operations in February, 1988. The Bank currently conducts business from its executive and main offices in downtown Boston, massachusetts and a branch in Chestnut Hill, Massachusetts. At December 31, 1995, Atlantic had total assets of 163.2 million dollars, deposits of 149.1 million dollars and shareholders' equity of 12 million dollars. The Bank focuses on selected business lines that management has identified as having the potential to provide high levels of profitability consistent with prudent banking practices. The Bank funds the foregoing activities with deposits consisting primarily of certificates of deposit. The Bank also offers retail deposit services, including checking and savings accounts, and related services to businesses and individuals through the nationwide electronic banking networks. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for general corporate purposes, including to further its business strategy by providing funds for (i) the acquisition of additional discounted loans, (ii) growth of other lending activities, and (iii) the expansion of the bank's deposit-gathering activities. |
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