| Ticker: CFNC | 115 South Lawrence Street, Post Office Box 1597 | |
| Exchange: NASDAQ-National Market | Rockingham, North Carolina 28380 | |
| Industry: Financial | (910) 997-6245 |
| Type of Shares: | Common Shares | Filing Date: | 6/26/96 | |
| U.S. Shares: | 1,851,500 | Offer Date: | 11/25/96 | |
| Non-U.S. Shares: | 0 | Filing Price: | $10.00 | |
| Primary Shares: | 1,851,500 | Offer Price: | $10.00 | |
| Secondary Shares: | 0 | Gross Spread: | ||
| Offering Amount: | $18,515,000 | Selling: | ||
| Expenses: | $383,000 | Reallowance: | ||
| Shares Out After: | - |
| Manager | Tier | Phone |
| Trident Securities, Inc. | Lead Manager | (919) 781-8900 |
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 6/30/95 | 3/31/96 | 3/31/95 | 3/31/96 | ||
| Revenue: | $6.81 | $5.52 | $5.04 | Assets: | $95.28 |
| Net Income: | $0.72 | $0.46 | $0.58 | Liabilities: | $86.73 |
| EPS: | Equity: | $8.55 | |||
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 a North Carolina corporation recently organized by the Board of Directors of Richmond Savings to acquire all of the capital stock that Richmond Savings will issue upon its conversion from the mutual stock form of ownership. Richmond Savings is a North Carolina-chartered mutual savings bank headquartered in Rockingham, North Carolina and has been in operation since 1906. Since 1957, Richmond Savings has been a member of the Federal Home Loan Bank system and its deposits have been federally insured. Richmond Savings' deposits are now insured by the Savings Association Insurance Fund of the FDIC to the maximum amount permitted by law. Richmond Savings conducts business through two full service offices in Rockingham and full service offices in Rockingham and full service offices in Southern Pines and Ellerbe, North Carolina. Richmond Savings' primary market area consists of Richmond, Moore and Scotland counties in North Carolina. Richmond Savings' primary market area consists of Richmond, Moore and Scotland counties in North Carolina. |
| 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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