| Ticker: | CCBD | 100 North Main Street, P.O. Box 7 | |
| Exchange: | Over-the-Counter Market | Mount Clemmens, Michigan 48046 | |
| Industry: | Financial | (810) 783-4500 |
| Type of Shares: | Common Shares | Filing Date: | 5/20/96 | |
| U.S. Shares: | 1,000,000 | Offer Date: | 9/23/96 | |
| Non-U.S. Shares: | 0 | Filing Price: | $10.00 | |
| Primary Shares: | 1,000,000 | Offer Price: | $10.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.80 | |
| Offering Amount: | $10,000,000 | Selling: | $0.42 | |
| Expenses: | $209,089 | Reallowance: | $0.10 | |
| Shares Out After: | 1,000,000 |
| Manager | Tier | Phone |
| Roney & Co. | Lead Manager | (313) 963-6700 |
| Auditor: Plante & Moran, LLP | |||||
| 4 Month Ending Financials | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 7/31/96 | 7/31/96 | ||||
| Revenue: | $0.00 | Assets: | $0.42 | ||
| Net Income: | $0.00 | Liabilities: | $0.42 | ||
| EPS: | $0.00 | Equity: | $0.00 | ||
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The Bank is organizing as a Michigan banking corporation with depository accounts to be insured by the Bank Insurance Fund of the Federal Deposit Insurance Corporation (the "FDIC"). The Bank intends to provide a range of commercial and consumer banking services primarily in the communities of Macomb County, Michigan, including Mount Clemens, Clinton Township, Harrison Township, Chesterfield Township, and Macomb Township. Those services will reflect the Bank's intended strategy of serving small to medium size businesses, and individual customers in its market area. The Bank's retail banking strategy will initially focus on providing attractive products and services, including computer home banking, telephone banking and automated bill paying services to individuals in the bank's market area. Completion of the offering will be conditioned on the Company and the Bank having received all necessary regulatory approvals, subject to the satisfaction of certain conditions. The liberalization in recent years of Michigan's branch banking laws, together with the expansion of interstate banking, has led to substantial consolidation of the banking industry in Michigan and especially the Metropolitan Detroit area in which the Bank will be located. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for capitalization of the Bank and payment of organization and reopening expenses. |
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