Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: SATURDAY, August 14, 1993 TAG: 9308140093
SECTION: BUSINESS PAGE: A-6 EDITION: METRO
SOURCE:
DATELINE: LENGTH: Medium
Charter Federal Savings Bank said Friday it completed a stock offering that raised $43.9 million through the sale of nearly 22 million new shares of common stock. The infusion of capital means the bank has complied with capital requirements set by federal regulators.
Charter said about $30 million was raised by the sale of new shares to holders of its existing common stock. The remainder was raised by sale of stock to so-called standby purchasers - company directors, institutional investors and other holders of large blocks of the company's stock.
The Bristol-based company had 3.7 million shares of stock outstanding before the offering. Under the plan, stockholders could buy 5.95 new shares for each share they held at $2 per share. - Staff report
NationsBank may put more on part time
NationsBank is again looking at switching employees from full-time to part-time work in a continuing effort to match its employees' hours with peak consumer demand.
Lewis Nelson, vice president in charge of consumer banking in Roanoke, said Friday that the study by the Charlotte, N.C.-based company affects all branch personnel, including tellers and desk people, such as loan officers. Between 70 and 80 people work in NationsBank branches in Roanoke, he said.
"We're not through with it yet," Nelson said, and a possibility of some job terminations remains. But most of the changes, he said, would involve a reduction in working hours.
Any changes would go into effect in September, he said.
NationsBank switched some employees from full- to part-time work a year ago. - Staff report
3 companies file in bankruptcy court
Three businesses have filed petitions in U.S. Bankruptcy Court for the Western District of Virginia seeking protection from creditors:
William Kenneth Reid, doing business as Reid Construction and Maintenance in Roanoke, filed for liquidation, listing assets of $805 and liabilities of $25,900.
Wanmus Desmond Dunithan and Lillian Jean Rogers, trading as Swan Restaurant in Salem, filed for liquidation, listing assets of $48,595 and liabilities of $65,400.
A&Z Apparel Inc. of Galax, a contract sewing company, filed for financial reorganization, listing assets of $179,125 and liabilities of $260,253. - Staff report
by CNB