BRIEF: Intermountain Stock Split Benefits Shareholders
TWIN FALLS, Sep 11, 2012 (Menafn - The Times-News - McClatchy-Tribune Information Services via COMTEX) --Intermountain Community Bancorp has announced a reverse stock split that gives shareholders one new share of common stock for every 10 shares they held before the split.
ICB is a division of Panhandle State Bank which operates Magic Valley Bank outlets in Twin Falls and Gooding.
The effect of the reverse stock split will be to increase the per share market price of Intermountain's common stock to at last 4 per share, the company said in a news release.
"The reverse stock split will allow our stock to be more broadly traded on NASDAQ and satisfies a contractual obligation to our new investors," said Curt Hecker, ICB's president and CEO.
___ (c)2012 The Times-News (Twin Falls, Idaho) Visit The Times-News (Twin
Falls, Idaho) at magicvalley.com Distributed by MCT Information Services
Copyright (C) 2012, The Times-News, Twin Falls, Idaho