Posted On: 06/09/2016 1:09:18 AM
Post# of 273310
Ibw Financial New (IBWC) 18.2500 $IBWC
City National Bancshares Corp. completes $20 million recapitalization of City National Bank
BusinessWire - Fri Aug 14, 11:03AM CDT
City National Bancshares Corporation (CNBC) today announced that it has completed its $20 million recapitalization of City National Bank of New Jersey (CNB). This recapitalization is a crucial step in the turnaround of the bank, which experienced difficulties during the economic downturn of 2008, which was especially devastating for African American communities and the banks that serve them. Skopos Impact Fund and The Prudential Insurance Company of America, a subsidiary of Prudential Financial, Inc. (NYSE
RU) are key investors in the recapitalization. Other significant investors in the transaction include: New United Corporation; East Coast Capital Holdings, Ltd., a Specialized Small Business Investment Company; and Industrial Bank, a subsidiary of IBW Financial Corporation (OTCQB:IBWC).
JPM: 65.25 (+0.19), PRU: 76.81 (-0.01)
City National Bancshares Corp. completes $20 million recapitalization of City National Bank
BusinessWire - Fri Aug 14, 11:03AM CDT
City National Bancshares Corporation (CNBC) today announced that it has completed its $20 million recapitalization of City National Bank of New Jersey (CNB). This recapitalization is a crucial step in the turnaround of the bank, which experienced difficulties during the economic downturn of 2008, which was especially devastating for African American communities and the banks that serve them. Skopos Impact Fund and The Prudential Insurance Company of America, a subsidiary of Prudential Financial, Inc. (NYSE
RU) are key investors in the recapitalization. Other significant investors in the transaction include: New United Corporation; East Coast Capital Holdings, Ltd., a Specialized Small Business Investment Company; and Industrial Bank, a subsidiary of IBW Financial Corporation (OTCQB:IBWC). JPM: 65.25 (+0.19), PRU: 76.81 (-0.01)
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