| SFB Bancorp, Inc. | |||
| Ticker: | SFBK | 632 East Elk Avenue | |
| Exchange: | Over-the-Counter Market | Elizabethton, TN 37643 | |
| Industry: | Financial (SIC Code 6035) | (423) 543-3518 | |
| Type of Shares: | Common Shares | Filing Date: | 3/18/97 | |
| U.S. Shares: | 767,000 | Offer Date: | 5/30/97 | |
| Non-U.S. Shares: | 0 | Filing Price: | $10.00 | |
| Primary Shares: | 767,000 | Offer Price: | $10.00 | |
| Secondary Shares: | 0 | Gross Spread: | ||
| Offering Amount: | $7,670,000 | Selling: | ||
| Expenses: | - | Reallowance: | ||
| Shares Out After: | - |
| Manager | Tier | Phone |
| Trident Securities, Inc. | Lead Manager | (919) 781-8900 |
| Issuer's Law Firm: | Malizia, Spidi, Sloane & Fisch |
| Bank's Law Firm: | Housley, Kantarian & Bronstein, P.C. |
| Auditor: | Crisp Hughes & Co. LLP |
Dollar amounts in U.S. millions except for per share data | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/96 | 12/31/96 | ||||
| Revenue: | $3.63 | Assets: | $46.58 | ||
| Net Income: | $0.26 | Curr Assets: | |||
| EPS: | Liabilities: | $41.90 | |||
| Prior EPS: | Curr Liabilities: | ||||
| Cash Flow/Oper: | $0.34 | Equity: | $4.68 | ||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company is not an operating company and has not engaged in any significant business to date. It was formed in March 1997, as a Tennessee Corporation to be the holding company for Security Federal Savings Bank. The holding company structure and retention of proceeds will facilitate: 1) diversification into non-banking activities; 2) acquisitions of other financial institutions, such as savings institutions; 3) expansion within existing and into new market areas and 4) stock repurchases without adverse tax consequences. There are no present plans regarding diversification, acquisitions or expansion. We have operated as an independent community oriented savings association since 1963. It is our intention to continue to operate as an independent community oriented savings association following the Conversion. Since Bancorp will own only one savings association, it generally will not be restricted in the types of business activities in which it may engage; provided, that we retain a specified amount of our assets in housing-related investments. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to purchase the common stock to be issued in the conversion and to make a loan to the employee stock ownership plan to fund its purchase of stock in the conversion. |