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First National Bancshaes, Inc.
248 N. Church Street, Spartanburg, SC 29304 * (864) 948-9001
Business Description The company is a savings and loan holding company for the First National Bank of Spartanburg. The bank will focus on the local community, emphasizing personal service to individuals and businesses in Spartanburg County.
Filing
Information

Not yet
public

To Trade As  - - (OTC) Industry  Financial (SIC 6021)
Type of Stock Offered Common Shares Filing Date  09/21/1999
Domestic Shares Filed 1,200,000 Filing Price  $10.00
Foreign Shares Filed  0 Offering Amount  $12,000,000
Company Shares  1,200,000 Est. Expenses  - -
Selling Shrhldrs Shares  0 Post-IPO Shares  - -
Primary
Underwriting
Group
Underwriter NameParticipationUnderwriter Phone
J.C. Bradford & Co. Lead Manager (615) 748-9347
Income
Statement
and
Cash Flow
Summary
  Prior
Audited
Income
Latest
Unaudited
Income
  Full Year Audited Figures 1 Months Ending
Figures in U.S. millions except per share data             07/31/1999
Revenues   - - - - - - -
Income from Oper.   - - - - - - -
Net Income   - - - - - - -0.108
E.P.S   - - - - - - -
Revenue Growth (%)      - - - -   -
Net Income Growth (%)      - - - -   -
Oper. Profit Margin (%)    - - - - - - -
Net Profit Margin (%)    - - - - - - -
Cash Flow - Oper.     - - -0.11
Cash Flow - Inv.     - - -0.01
Cash Flow - Fin.     - - 0.13
Balance Sheet
Summary
and
Financial
Ratios
Balance sheet as of: 07/31/1999 Financial Ratios
Total Assets    0.02 Current Assets    - Current Ratio    -
Total Liab.    0.13 Current Liab.    - Debt Ratio    619.66%
Total Equity    -0.11 Working Cap.    - Debt to Equity Ratio    -
Cash    -    Return on Assets   -
Use Of
Proceeds
The proceeds from the proposed offering will be used for general corporate purposes.
Legal Counsel
Registrar
Auditor
Issuer's Law Firm  Nelson Mullins Riley & Scarbourough
Auditor  Crisp Hughes & Co. LLP
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Last updated: 09/29/1999 3:51:19 AM
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