Stock trading set to start for Hatboro bank

0 Comments | Philadelphia Inquirer, The, September, 2006 | by INQUIRER STAFF

Fox Chase Bancorp Inc., the new holding company for Fox Chase Bank, today said it had raised $64 million in an initial stock offering. Trading in the company's common stock is expected to begin on the Nasdaq Global Market on Monday under the symbol FXCB, the company said. The 139-year-old bank, headquartered in Hatboro, was reorganized into a mutual holding company structure earlier this week.

The stock offering included the sale of 6.4 million shares - representing 43.6 percent of common stock - at $10 per share. The majority of shares - 55.5 percent - were issued to Fox Chase MHC, the federally chartered mutual holding company formed in connection with the reorganization. In addition, 135,000 shares, and $150,000 - 0.9 percent of outstanding common stock - were contributed...