Bank Holding Company to Split Issues 4 for 3
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California Commercial Bankshares, the Santa Ana holding company for National Bank of Southern California, has declared a 4-for-3 stock split in an effort to lower the price of the stock to make it more attractive to more investors.
The additional shares will be issued July 15 to shareholders of record on June 30, said William H. Jacoby, chief executive officer of both the company and the bank.
The split will increase the 4-year-old company’s shares outstanding about 33%, to 806,667 from 605,000.
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