Business Services Industry
Stock sale seen pulling Parkview out of crisis. (Parkview Federal Savings Bank)
Crain's Cleveland Business, December, 1992 by Shingler, Dan
Parkview Federal Savings Bank is about to get a capital injection through a public stock offering, and once it does, the thrift crisis in Ohio will be over. Parkview expects to sell 750,000 to 850,000 shares for $10 each. After expenses, that would leave the thrift with $7.1 million to $8.1 million in new capital.
If it's successful, Parkview will be the last seriously undercapitalized thrift in the state to either recapitalize or fail, said Ron Karr, regional director of the U.S. Office of Thrift Supervision in Chicago. The odds are tilted in Parkview's favor. A group of investors -- consisting mostly of officers, directors and builders that borrow from the thrift -- has agreed to purchase up to 557,500 shares for $5.6 million, according to the thrift's offering...
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