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First Coastal Bancshares Inc., 10% Cumul Convertible Preferred Stock A
Ticker Symbol: FCSTP* CUSIP: 31969P207 Exchange: OTCBB
* NOTE: This security is no longer trading as of 9/08/2003
Security has been Called for: Monday, September 8, 2003
Aug. 1, 2003--On July 18, 2003, the Board of Directors of First Coastal Bancshares, El Segundo, Calif., parent of wholly-owned First Coastal Bank, N.A., approved a mandatory redemption of First Coastal Series A 10% Cumulative Convertible Preferred Stock at a redemption price of $6.75 per share (plus accrued dividends). First Coastal will redeem all of its outstanding shares (309,789) of Series A Preferred Stock effective September 8, 2003. Until September 1, 2003, holders of First Coastal Series A Preferred Stock will have the right to elect to convert their shares into shares of First Coastal Common Stock instead of having their shares redeemed. After that date, all rights to convert shares of Series A Preferred Stock will terminate. First Coastal Common Stock trades on the OTC Bulletin Board under the symbol "FCST." Based upon the applicable conversion price of the Common Stock of $122.75 (the "Conversion Price"), each share of Series A Preferred Stock is convertible into shares of Common Stock on an approximately one-for-eighteen basis (i.e., 0.0549 shares of Common Stock for each share of Series A Preferred Stock).
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QUANTUMONLINE.COM SECURITY DESCRIPTION: First Coastal Bancshares Inc., Series A 10% Cumulative Convertible Preferred Stock, liquidation preference $6.75 per share, redeemable any time at the company's option now at $6.75 per share plus accrued and unpaid dividends, with no stated maturity, and with distributions of 10% ($0.675) per annum paid quarterly on 1/15, 4/15, 7/15 & 10/15. The preferred shares are convertible at any time at the holder's option into common shares on a one to one basis.
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Go to Parent Company's Record (FCST)
IPO - 6/1/1997 - 430,000 Shares @ $/share.
Previous Ticker Symbol: FCL Changed: 7/17/2003
Market Value $2.1 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: 275 Main Street, El Segundo, CA 90245 |
| Main Phone Number |
888-296-2250 |
| Fax Number |
310-322-2411 |
| Investor Contact (COO)
Deborah Marsten
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888-296-2250
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| Toll Free Phone Number |
888-296-2250 |
| CEO - Don M. Griffith |
COO - Deborah A. Marsten |
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