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Stock Market & Financial Investment News

News Breaks
February 24, 2014
06:26 EDTPBSKStilwell says Poage should be sold to 'maximize shareholder value'
Stilwell Value Partners, which owns a 9.5% stake in Poage Bankshares, said in a regulatory filing, "We are filing this Seventh Amendment to announce that we have taken the steps necessary to nominate an individual for election as a director at the Issuer's 2014 annual meeting of stockholders. We have lost confidence in the board and management and believe the Issuer should be sold to maximize shareholder value...In our view, the Issuer's recent decision to buy another bank at a premium to tangible book value instead of repurchasing its own shares at a substantial discount to tangible book value was foolish, misguided and shows that the current board is not focused on maximizing shareholder value. We intend to seek board representation with the goal of maximizing shareholder value."
News For PBSK From The Last 14 Days
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December 17, 2014
17:28 EDTPBSKPoage Bankshares files to sell up to 129,488 shares of common stock
Poage Bankshares is offering shares of its common stock in connection with the conversion merger of Commonwealth Bank, F.S.B. Commonwealth Bank will convert from the mutual to the stock form of organization and simultaneously merge with and into Town Square Bank, a wholly owned subsidiary of Poage Bankshares. The company is offering up to 129,488 shares of common stock for sale on a best efforts basis, subject to certain conditions. The company must sell a minimum of 95,709 shares in order to complete the offering.

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