| Ticker: | RIVR | 303 Clifty Drive, P.O. Box 626 | |
| Exchange: | NASDAQ-Small Cap Market | Madison, Iowa 47250 | |
| Industry: | Financial | (812) 273-4949 |
| Type of Shares: | Common Shares | Filing Date: | 6/3/96 | |
| U.S. Shares: | 1,035,000 | Offer Date: | 12/20/96 | |
| Non-U.S. Shares: | 0 | Filing Price: | $10.00 | |
| Primary Shares: | 1,035,000 | Offer Price: | $10.00 | |
| Secondary Shares: | 0 | Gross Spread: | ||
| Offering Amount: | $10,350,000 | Selling: | ||
| Expenses: | - | Reallowance: | ||
| Shares Out After: | - |
| Manager | Tier | Phone |
| Trident Securities, Inc. | Lead Manager | (919) 781-8900 |
| Auditor: Grant Thornton | |||||
| 6 Month Ending Financials | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 6/30/96 | 6/30/95 | 6/30/96 | ||
| Revenue: | $6.16 | $3.14 | $3.06 | Assets: | $81.90 |
| Net Income: | $0.26 | $0.18 | $0.24 | Liabilities: | $75.20 |
| EPS: | Equity: | $6.70 | |||
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The Holding Company is an Indiana corporation organized to acquire all of the common stock of Madison First in the Conversion and the Citizen's Shares in the Acquisition, and thereafter to act as the savings and loan holding company for Madison First. Pursuant to the Plan of Conversion, the Holding Company will offer the Common Stock to Eligible Account Holders, the ESOP, Supplemental Eligible Account Holders, Other Members, and to the general public. The holding company structure will provide increased flexibility in conducting future business activities related to the Institutions. The Holding Company currently intends to maintain the independence of the Institutions, but may in the future evaluate a possible merger or combination of the Institutions. The Holding Company has received the approval of the OTS to become a savings and loan holding company through the acquisition of the common stock of Madison First in the Conversion. The Holding Company has also received the approval of the FRB to become a bank holding company through the acquisition of the Citizens Shares in the Acquisition. |
| 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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