SuffolkFirst Bank to Form First Bankshares, Inc. as Bank Holding Company
23 Febrero 2008 - 1:00PM
PR Newswire (US)
SUFFOLK, Va., Feb. 23 /PRNewswire-FirstCall/ -- Darrell G.
Swanigan, President and CEO of SuffolkFirst Bank (NASDAQ:SUFB), a
$179 million locally owned community bank headquartered in Suffolk,
Virginia, announced today that its Board of Directors approved the
formation of First Bankshares, Inc., as a one-bank holding company
for the bank subject to regulatory and shareholder approval. Mr.
Swanigan said, "The formation of First Bankshares represents an
important milestone which will enable us to more efficiently manage
our capital and is the next step to enhance our community-oriented
philosophy as we explore other financial related opportunities."
SuffolkFirst Bank (a Virginia chartered Federal Reserve member
bank) opened for business January 27, 2003 and operates three full
service offices in the city of Suffolk. The Bank celebrated its 5th
anniversary and the grand opening of its main office and operations
facility today, February 23rd. DATASOURCE: SuffolkFirst Bank
CONTACT: Darrell G. Swanigan, President & CEO of SuffolkFirst
Bank, +1-757-934-8200,
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