| Ticker: PRBC | ||
| Exchange: NASDAQ-National Market | Pleasant Hills, Pennsylvania | |
| Industry: Financial |
| Type of Shares: | Common Shares | Filing Date: | 3/22/96 | |
| U.S. Shares: | 963,023 | Offer Date: | 6/27/96 | |
| Non-U.S. Shares: | 0 | Filing Price: | $10.00 | |
| Primary Shares: | 963,023 | Offer Price: | $10.00 | |
| Secondary Shares: | 0 | Gross Spread: | ||
| Offering Amount: | $9,630,230 | Selling: | ||
| Expenses: | - | Reallowance: | ||
| Shares Out After: | - |
| Manager | Tier | Phone |
| Ryan, Beck & Co. | Lead Manager | (800) 325-7926 |
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| Revenue: | Assets: | ||||
| Net Income: | Liabilities: | ||||
| EPS: | Equity: | ||||
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The Savings Bank is a Federally chartered mutual savings bank which conducts business from offices located in Allegheny County, Pennsylvania. The Savings Bank's operations date back to 1935 with the incorporation of First Federal Savings and Loan Association of Mt. Oliver in Allegheny County, Pennsylvania which, in March, 1991, converted its charter from a Federal mutual savings and loan association to a Federal mutual savings bank and took the name Prestige Bank, A Federal Savings Bank. The Savings Bank's deposits are insured by the Savings Association Insurance Fund of the Federal Deposit Insurance Corporation to the maximum extent permitted by law. At December 31, 1995, the Savings Bank had $91.8 million in total assets, $80.7 million in total deposits and $7.2 million in total equity. The Savings Bank is a community oriented savings institution providing mortgage loans and other traditional services to its local community. The Savings Bank is primarily engaged in attracting deposits from the general public through its offices and using those and other available sources of funds to originate loans secured by one-to-four family residences primarily located in Allegheny, Washington and Westmoreland Counties, and to a lesser extent, Butler and Greene Counties, all of which counties are located in Western Pennsylvania. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to fund the transition from a mutual to a stock bank holding company. |
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