AccessMyLibrary provides FREE access to millions of articles from top publications available through your library.
State regulators are tentatively set to act in mid-October on an investor group's request to authorize the raising of $8 million in sale of stock for a new bank in Jamestown.
If approved by the state Banking Board at its Oct. 13 meeting, the group would have 90 days to sell $6.8 million to $8 million in common shares. Proceeds would capitalize the bank, which supporters hope to have operating in the first quarter of 1995.
If the capital is raised, the next-to-last step before the bank would open would be to secure backing from the Federal Deposit Insurance Corp. The state then would give final authorization and a charter, a spokesman said.
In a conditional …