Business Services Industry
Peoples Bank in Elkhorn, Wis., Expects to Raise $3 Million through Stock Sale.
Knight Ridder/Tribune Business News, June, 2003
By Paul Gores, Milwaukee Journal Sentinel Knight Ridder/Tribune Business News
Jun. 20--Peoples Bank in Elkhorn expects to raise $3 million through a stock sale this summer -- money the bank will use to keep up with its rapid growth, the bank's chief executive said Thursday.
The bank, which opened in 2001 after raising $7.2 million in an initial stock offering, already has $68 million in assets, said Ron Condroski, president and CEO.
The stock sale will be open first to existing shareholders. If there are any shares left, they will be sold to the public, Condroski said.
Shares are priced at $28 each, he said. The stock sale is expected to begin in about three weeks.
Condroski, a longtime Walworth County banker, started...
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