yes sir... USABancShares Announces Name Change to USABanc.com Business Editors
Business Wire - May 12, 1999 14:15
Company Becomes First "dot com" Federal Reserve
Bank Holding Company
Pushing forward its conversion into an internet based financial services company, USABancShares Board of Directors today approved the company's name change to "USABanc.com".
USABanc.com becomes the first bank holding company regulated by the Board of Governors of the Federal Reserve to undergo a "dot com" name change, reflecting internet operations as its' core business focus. USABanc.com will continue to trade under the stock symbol "USAB" (NASDAQ).
"Our commitment for creating an exciting internet bank with national exposure is now complete. We're going to bring a great product to market that will totally change the way people think about banking and financial services," said Ken Tepper, President & CEO of USABanc.com.
"We're trading real estate for bandwidth," added Brian M. Hartline, Chief Operating Officer for the company. "For us, branch banking is a memory; our corporate assets, energy and creativity must be invested in the future . . . and in electric banking," he concluded.
Hartline said USABanc.com's FDIC insured banking subsidiary, BankPhiladelphia, also plans to apply for a new name reflecting its' online focus.
USABanc.com is a bank holding company regulated by the Federal Reserve Board; its' FDIC insured banking subsidiary is a Pennsylvania State Chartered Savings bank. USACapital, its wholly owned brokerage firm, is engaged in the sale of securities and related financial advisory services.
USABanc.com's online auction of certificate of deposits can be accessed 24 hours a day, 365 days a year at www.CDenergy.com.
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