USAB..from Marketwatch....15 minutes ago...
Screamers
USABancshares screams on Web site
By Cecily Fraser, CBS MarketWatch
Last Update: 1:40 PM ET Apr 19, 1999 Movers & Shakers
PHILADELPHIA (CBS.MW) -- USABancshares stock shot up 66 percent Monday after the bank holding company said it activated a new banking Website.
USAB
NASD
Last Chg.
17 1/4 +6 3/8
% Chg. Vol.
+58.62% 3,765,700
Day Lo. Day Hi.
12 1/2 22
Open Prev.
14 5/8 10 7/8
As of
Apr 19/99 1:54 pm ET
Last Trade
Apr 19/99 1:39 pm ET
15 MIN. DELAY
The Philadelphia-based company (usab: news, msgs) saw shares scream 7 3/16 points higher to 18 1/16 on volume of 3.5 million shares, well above its average daily volume of 3 million shares.
USA Bancshares said the site, USABanc.com, gives customers real-time access to account information and provides banking functions such as bill paying, CD purchases, and loan processing.
"We're here to capture online marketshare," said Kenneth Tepper, chief executive officer.
In connection with its stock brokerage unit, customers who use the site will also be able to purchase stocks, as well as invest in initial public offerings the company said in a release.
"The ability to keep Internet customers coming back will merit the same premium traditionally recognized for conventional branch banking - except without the attached overhead," said Daniel Taylor, director of the company's electric banking division.
Cecily Fraser is an online reporter for CBS MarketWatch.
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