ATLB <news>
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News Alert from PR Newswire via Quote.com
Topic: (NASDAQ:BSGK) Banc Stock Group Inc, (NASDAQ:ATLB) Atlantic Bank & Trust,
Quote.com News Item #9750166
Headline: The Banc Stock Group's Mutual Fund, The Banc Stock Group Fund,
Rebounds Through Performance of Largest Holding -- Atlantic Bank & Trust Co.,
Inc.
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The Banc Stock Group Fund (BANCX) is offered through Banc Stock Financial
Services, Inc., a subsidiary of The Banc Stock Group, Inc.
COLUMBUS, Ohio, April 14 /PRNewswire/ -- The Banc Stock Group, Inc.
(NASDAQ:BSGK), today announced that The Banc Stock Group Fund (BANCX) ("the
Fund") has experienced a net asset value increase through the recent
performance of its largest holding, Atlantic Bank & Trust Company
(NASDAQ:ATLB), which represents 13.48% of the Fund's portfolio as of 4/12/99
and represents a portion of The Banc Stock Group's portfolio.
Michael E. Guirlinger, CEO and President of The Banc Stock Group stated,
"We commend Atlantic Bank on their performance. The Banc Stock Group recently
made a move to the Nasdaq SmallCap Market to widen our investor base. We
believe in the value of community and regional banks, like Atlantic Bank &
Trust. We contend that this is an opportune time for sector rotation into
community and regional banks and will continue our strong commitment to this
sector throughout 1999."
Mark A. Davis, Chief Analyst for The Banc Stock Group, commented, "There
are presently two existing internet stock savings bank holding companies,
Telebanc Financial and Net.B@nk, Inc. The exciting news is that Atlantic Bank
& Trust Company, Inc. is the first commercial bank to enter this arena. In
1998, Atlantic Bank's net interest spread was 6.05% versus 1.20% for Telebanc
and 1.84% for Net.B@nk. Atlantic Bank showed a comparable cost of funds of
5.78% versus 6.08% for Telebanc and 5.64% for Net.B@nk."
The Banc Stock Group specializes in researching and recommending the stock
of publicly traded community banks for money management customers and trading
portfolios. Banc Stock Financial Services also assists individual and
institutional bank stock investors through retail and managed accounts, as
well as through its mutual fund of community and regional banks, The Banc
Stock Group Fund. (BANCX).
This release may contain certain forward-looking statements that are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Actual events or results may differ from the Company's
expectations as a result of risk factors discussed in the company's reports on
file with the U.S. Securities and Exchange Commission, including, but not
limited to, the Company's report on Form 10-QSB for the quarter ended November
30, 1998, and the Company's annual report on Form 10-KSB for the year ended
February 28, 1998.
SOURCE The Banc Stock Group
-0- 04/14/99
/CONTACT: Investors, Michael E. Guirlinger, President & CEO of the Banc
Stock Group, 614-848-5100, or E-mail, info@bancstock.com/
/Web site: bancstockgroup.com |
