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Bank News, February, 2005 by Anonymous
Horizon Financial Services Corp., Oskaloosa, Iowa, has filed documents with the securities and Exchange Commission to terminate the registration of its common stock. In its statement, the company said its board of directors "determined, after careful consideration, that deregistration of the company's common stock is in the overall best interest of the company and its stockholders."
Among factors considered were the continued increase in administrative, legal, accounting and printing costs as well as the substantially increased administrative and expense burdens associated with being a public company, particularly after implementation of the SarbanesOxley Act, the limited trading volume and relatively few holders of the company's common stock and the possible decrease in...
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