Local Financial Corporation Begins Trading on the Amex
NEW YORK, April 22 /PRNewswire/ -- The American Stock Exchange today
began trading the initial public offering of common stock and Senior
Notes of Local Financial Corporation of Oklahoma City under the ticker
symbols LO and LO.A, respectively.
Local Financial Corporation was organized in 1993 as a holding company
of Local Federal Bank, a federally chartered savings institution. Local Federal's wholly owned subsidiaries include Local America Inc. and its wholly owned subsidiary, Local America Bank of Tulsa.
The banks under Local Financial Corporation's umbrella conduct business through 44 branch offices located in Oklahoma, with a heavy
concentration in the Oklahoma City and Tulsa areas. Twenty eight
branches operate under the Local Federal name.
The Company issued an initial public offering of 20,537,209 shares of
common stock and $80 million aggregate principal amount of its 11.0%
Senior Notes due September 8, 2004.
The company's stock opened today at $13.00 on 15,000 shares. The Company has selected Cohen Specialists L.L.C./PALBRO Partners L.L.C. as its specialist unit. |
