Summit Bank Corporation Announces Exercise of Over-Allotment of Options
27 4월 2006 - 9:15AM
Business Wire
Summit Bank Corporation (NASDAQ:SBGA) today announced the full
exercise by Keefe, Bruyette & Woods of its option to purchase
up to 187,500 shares of Summit common stock to cover
over-allotments from Summit's March 31, 2006 firm commitment
underwritten offering of 1.25 million shares of common stock at a
public offering price of $15.25 per share. The sale of the
over-allotment shares closed on April 25, 2006 and resulted in net
proceeds to Summit of approximately $2.7 million. Keefe, Bruyette
& Woods acted as the sole underwriter and book-running manager
for the offering. A registration statement relating to these
securities has been filed with, and declared effective by, the
Securities and Exchange Commission. This announcement shall not
constitute an offer to sell or the solicitation of an offer to buy,
nor shall there be any sale of these securities in any jurisdiction
in which such offer, solicitation or sale would be unlawful, prior
to registration or qualification under the securities laws of such
jurisdiction. Copies of the prospectus relating to this offering
may be obtained from Keefe, Bruyette, & Woods, Inc., 787
Seventh Avenue, 4th Floor, New York, NY 10019, Attention: Syndicate
Department. Summit Bank Corporation is the parent company of The
Summit National Bank, a nationally chartered full-service community
bank specializing in the small business and international trade
finance markets. It currently operates five branches in the
metropolitan Atlanta area and two in the South Bay area of San
Francisco, California. Summit Bank completed the purchase of
Concord Bank, N.A. in Houston, Texas on April 1, 2006 for $23.7
million. Concord had approximately $120 million in assets, $96
million in loans and $108 million in deposits at the closing date.
Concord Bank now operates as a division of Summit Bank in one
location in Houston, Texas. Summit also operates a loan production
office in San Diego, California and a representative office in
Shanghai, China.
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