| Firstfed America Bancorp, Inc. | |||
| Ticker: | FAB | One North Main Street | |
| Exchange: | American Stock Exchange | Fall River, MA 02720 | |
| Industry: | Financial (SIC Code 6035) | (508) 679-8181 | |
| Type of Shares: | Common Shares | Filing Date: | 9/27/96 | |
| U.S. Shares: | 8,067,000 | Offer Date: | 1/15/97 | |
| Non-U.S. Shares: | 0 | Filing Price: | $10.00 | |
| Primary Shares: | 8,067,000 | Offer Price: | $10.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.30 | |
| Offering Amount: | $80,670,000 | Selling: | ||
| Expenses: | $1,144,000 | Reallowance: | ||
| Shares Out After: | - |
| Manager | Tier | Phone |
| Sandler O'Neill & Partners. L.P. | Lead Manager | (212) 466-7737 |
| Issuer's Law Firm: | Muldoon, Murphy & Faucette |
| Bank's Law Firm: | Breyer & Aguggia |
| Auditor: | KPMG Peat Marwick |
| Registrar/Transfer Agent: | First National Bank of Boston |
Dollar amounts in U.S. millions except for per share data | |||||
| 6 Month Ending Financials | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 3/31/96 | 9/30/96 | 9/30/95 | 9/30/96 | ||
| Revenue: | $50.64 | $31.82 | $24.29 | Assets: | $874.16 |
| Net Income: | $4.60 | $0.47 | $2.62 | Curr Assets: | |
| EPS: | Liabilities: | $827.20 | |||
| Prior EPS: | Curr Liabilities: | ||||
| Cash Flow/Oper: | $0.99 | Equity: | $46.96 | ||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company is a Delaware corporation recently organized by the Bank for the purpose of acquiring all of the capital stock of the Bank to be issued in the COnversion. Immediately following the Conversion, the only significant assets of the company will be the capital stock of the Bank and a wholly-owned subsidiary incorporated under the laws of Massachusetts which intends to loan funds to the Bank's ESOP to the extent such loan is not funded by a third party lender, and the net proceeds of the Offerings retained by the company. The company will pill purchase all of the capital stock of the Bank to be issued upon Conversion in exchange for the greater of that portion of the net proceeds sufficient to increase the Bank's tangible capital to 10% of the Bank's total adjusted assets or up to 50% of the net proceeds, with the remaining net proceeds to be retained by the company. Funds retained by the company will be used for general business activities, including the capitalization of the ESOP Loan Subsidiary which intends to loan funds to the ESOP to enable the ESOP to purchase up to 8% of the Common Stock issued in the Conversion, including shares issued to the Foundation. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to purchase all of the outstanding capital stock of the company. |