| Ticker: BOYL | 18206 Imperial Highway | |
| Exchange: NASDAQ-National Market | Yorba Linda, California | |
| Industry: Financial |
| Type of Shares: | Common Shares | Filing Date: | ||
| U.S. Shares: | 725,000 | Offer Date: | 6/10/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $10.00 - $11.00 | |
| Primary Shares: | 725,000 | Offer Price: | $11.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.88 | |
| Offering Amount: | $7,612,500 | Selling: | $0.51 | |
| Expenses: | $420,000 | Reallowance: | $0.10 | |
| Shares Out After: | 1,071,420 |
| Manager | Tier | Phone |
| Ryan, Beck & Co. | Lead Manager | (800) 325-7926 |
| Auditor: Dayton & Associates | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 12/31/95 | ||||
| Revenue: | $10.14 | Assets: | $59.78 | ||
| Net Income: | $1.02 | Liabilities: | $54.63 | ||
| EPS: | $1.85 | Equity: | $5.16 | ||
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company is a California state-chartered bank headquartered in Yorba Linda, California. The company commenced operations on March 3, 1980. As of December 31, 1995, the company had total assets of approximately $59.8 million, total deposits of approximately $54.0 million, and shareholders' equity of approximately $4.0 million pro forma for the redemption of the company's Series A convertible preferred stock. The company is not a member of the Federal Reserve System, and its deposits are insured by the FDIC to the fullest extent authorized by the law. The company is subject to examination and comprehensive regulation by the Superintendent and the FDIC. The company's primary market area is Yorba Linda, California and the surrounding area of Orange County, California. The company specializes in originating and selling nonconforming and conforming residential real estate loans and Small Business Administration guaranteed loans. The company also originates several other types of loans, including secured and unsecured commercial and consumer loans. The company also offers a broad range of banking products and services, including many types of business and personal savings and checking accounts and other consumer banking services. |
| Use of Proceeds |
| The proceeds from the offering will be used to consummate the acquisition of the Bank of Westminster, subject to all necessary regulatory approvals and satisfaction of all the terms and conditions of the agreement between BOW and the bank, to replenish the capital used for the redemption of Series A Preferred Stock and payment of accrued dividends, so that the leverage capital ratio is in excess of 7%. |
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