Business Services Industry
Fort Worth, Texas, Bank Company Names CEO, Chairman.(Knight Ridder/Tribune Business News)
Knight Ridder/Tribune Business News, February, 2001 by Fuquay, Jim
Feb. 6--Surety Capital's largest individual shareholder on Monday was named chairman and chief executive of the Fort Worth bank company, which has struggled the past year to return to profitability.
Richard N. Abrams, who holds 13.2 percent of Surety's shares, is also chairman of Funeral Financial System of suburban Chicago. Funeral Financial makes small loans to individuals to cover the cost of funerals when they are held, rather than in advance, Abrams said Monday.
Abrams owns 607,200 shares of Surety stock, for which he paid nearly $550,000, according to a filing with the Securities and Exchange Commission. In October he loaned Surety $70,000 in the form of a note that may be converted into nearly 200,000 shares of stock, SEC records show.
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