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| HCNB Bancorp |
| 1682 E. Gude Drive, Suite 102D, Rockville, MD 20850 * (301) 251-1020 |
| Business Description | HCNB Bancorp, Inc. was incorporated in Maryland on February 24, 1998, to be a bank holding company. |
|
Filing Information Not yet | ||||
| To Trade As | - - (NONE) | Industry | Financial (SIC 6021) | |
| Type of Stock Offered | Common Shares | Filing Date | 03/05/1999 | |
| Domestic Shares Filed | 900,000 | Filing Price | $10.00 | |
| Foreign Shares Filed | 0 | Offering Amount | $9,000,000 | |
| Company Shares | 900,000 | Est. Expenses | - - | |
| Selling Shrhldrs Shares | 0 | Post-IPO Shares | - - | |
| Employees | 16 | |||
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Non Underwritten Offering | Lead Manager |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | 10 Months Ending | ||||||
| Figures in U.S. millions except per share data | 12/31/1998 | ||||||
| Revenues | - | - | - | - | - | - | 0.000 |
| Income from Oper. | - | - | - | - | - | - | - |
| Net Income | - | - | - | - | - | - | -0.129 |
| E.P.S | - | - | - | - | - | - | - |
| Revenue Growth (%) | - | - | - | - | - | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | - | - | -0.07 | ||||
| Cash Flow - Inv. | - | - | -0.02 | ||||
| Cash Flow - Fin. | - | - | 0.10 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 12/31/1998 | Financial Ratios | ||||
| Total Assets | 0.05 | Current Assets | - | Current Ratio | - |
| Total Liab. | 0.18 | Current Liab. | - | Debt Ratio | 369.96% |
| Total Equity | -0.13 | Working Cap. | - | Debt to Equity Ratio | - |
| Cash | 0.01 | Return on Assets | - | ||
| Use Of Proceeds |
Subject to regulatory approvals, the company will use at least $6,000,000 of the proceeds of this offering to purchase all of the shares of the common stock of Harbor Capital National Bank, a federally chartered commercial bank in the process of organization. The Bank will use the proceeds of the sale of its common stock to pay certain organizational and operating costs, to furnish and equip the Bank's premises and offices, to provide working capital for expansion and to fund lending activities. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Ober, Kaler, Grimes & Shriver |
| Registrar/Transfer Agent | Self Administered |
| Auditor | Jameson & Associates |
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| Industry Competition |
Deregulation of financial institutions and acquisitions of banks across state lines has resulted in widespread changes in the financial services industry. This transformation, although occurring nationwide, is particularly intense in the greater Washington, D.C. metropolitan area. In our primary market area, we face strong competition from large banks headquartered outside of Maryland. In addition, we will compete with other community banks, savings and loan associations, credit unions, mortgage companies, finance companies and others providing financial services. Many of our competitors can finance extensive advertising campaigns, maintain extensive branch networks and technology investments, and offer certain services, such as international banking and trust services, which we cannot or will not offer initially. Also, larger institutions have substantially higher lending limits than the Bank will have. Some of our competitors have other advantages, such as tax exemption in the case of credit unions, and lesser regulation in the case of mortgage companies and finance companies. |