MEDFORD, Ore.--(BUSINESS WIRE)--People’s Bank of Commerce (PBCO: OTC Pink), headquartered in Medford, Oregon, is offering for sale up to 335,570 shares of its common stock to existing shareholders, employees and the public at $14.90 per share. The Offering will commence October 25, 2019 and expire on December 30, 2019, unless we terminate it earlier or extend it.
We are offering the shares exclusively to our current shareholders on a pro-rata basis until November 29, 2019, after which time we will offer unsold shares, if any, to employees of the Bank, current shareholders desiring to purchase additional shares (above their pro-rata amount) and to other interested investors. Our directors and officers will conduct the Offering, for which they will receive no commissions. Net proceeds of the Offering, after payment of expenses, will be used for capital to support further growth of the bank.
People’s Bank of Commerce is an Oregon state chartered bank that commenced operations in March 1998. The Bank conducts business from its main office and a branch office, both located in Medford, Oregon, and branch offices in Medford, Ashland, Central Point, Grants Pass and Klamath Falls, Oregon.
An Offering Circular and related offering materials will be mailed to all current shareholders and are available upon request from Russ Milburn, Chief Financial Officer of People’s Bank of Commerce, 1528 Biddle Road, Medford, OR 97504. Tel: 541-608-8912.
This announcement does not constitute an offer to sell securities or a solicitation for an offer to buy securities. The offering will be made solely by subscriptions and conducted exclusively under the terms contained in the Offering Circular. The securities being offered are not bank deposits and are not insured by the Federal Deposit Insurance Corporation.