Wilmington HotelsWilmington AdvertiseWilmington AttractionsWilmington BeachesWilmington Business DirectoryWilmingtonWilmingtonWilmington GolfWilmington JobsWilmington NewsWilmington DiningWilmington Weather
     

 

 

Wilmington, NC News

  Free Wilmington Travel Guide!

Cooperative Bank must raise millions in capital

Video

Body

Cooperative Bank is scheduled to file their 2008 fourth quarter earnings report Friday.

The Wilmington based bank is in the middle of a cease and desist order from the FDIC.

Cooperative must raise $25 million of capital by July in order to stay open.

Experts said the most likely way to raise that money will be through a sale, merger, or finding an outside investor. In the meantime, the company could lose its ability to be traded on the NASDAQ stock market.

That would mean the stock would be subject to higher trade regulations. For example, restrictions on the amount of shares investors can buy and sell.

The stock is currently valued at just under 50 cents per share.

Story image

coperativebank300.jpg

Story summary

Cooperative Bank is scheduled to file their 2008 fourth quarter earnings report Friday.

The Wilmington based bank is in the middle of a cease and desist order from the FDIC.

Cooperative must raise $25 million of capital by July in order to stay open.

Story summary image

cooperativebank150.jpg

Associated poll

More: continued here

Be Sociable, Share!
 

Archives

News provided by WWAY NewsChannel 3 and the StarNewsOnline

|Home| |Events| |Attractions| |Accommodations| |Restaurants| |Golf| |Beaches| |Jobs| |Getting Here| |Climate| |Directory| |News| |Advertise| |Contact Us|

 
 
  Welcome to Wilmington, North Carolina