Community Shores Bank Corp: Key Developments
Black River BancVentures Inc. To Seek Permission To Own 24.9% Of Community Shores Bank Corporation-DJ
December 4, 2007 |
| Dow Jones reported that Black River BancVentures Inc. intends to apply for permission to own up to 24.9% of Community Shores Bank Corporation shares outstanding. Community Shores Bank Corporation reported that Black River would seek permission from the Federal Reserve Board to purchase control of the Muskegon, Mich., independent community banking company. |
Community Shores Bank Corporation Announces Management Changes
June 1, 2006 |
| Community Shores Bank Corporation announced that Jose Infante, Chairman, President and Chief Executive Officer of the Corporation, and Vice Chairman of Community Shores Bank (the Bank), has resigned from the Company, effective May 30, 2006. At a meeting of the Board of Directors held yesterday, Heather D. Brolick, President of the Bank, was named President and Chief Executive Officer of the Company. Subject to a change in the bylaws of the Company, the Board plans to name a non-executive Chairman from its present board membership. |
Community Shores Bank Corporation, Lists on NASDAQ
February 22, 2005 |
| Community Shores Bank Corporation announced that it will no longer trade on OTC. The company will commence trading on NASDAQ. |
Community Shores Bank Corporation Announces Completion of Trust Preferred Transaction
December 17, 2004 |
| Community Shores Bank Corporation announced that its Delaware trust subsidiary, Community Shores Capital Trust I, has completed a private sale of $4,500,000 of Floating Rate Preferred Securities. The rate on these trust preferred securities is the three-month LIBOR rate plus a specified percentage. The rate, which adjusts every three months, is currently 4.55125% per annum. The trust preferred securities mature in approximately 30 years, on December 30, 2034, and can be called on any interest payment date, without penalty, on or after December 30, 2009. |
Community Shores Bank Corporation Raises Full Year Guidance
October 17, 2002 |
| Community Shores Bank Corporation announced that it has raised its guidance for full year earnings per share to $0.62. Wall Street analysts on average were expecting the Company to earn $0.54 per share in the same period, according to Multex. The Company cited strong results first three quarters of the full year as the primary reason for its revised guidance. |
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