Territorial Bancorp Inc | 9.00% Fix/Float Series B Non-Cumul Perp Pref Stock (TECTP)
Prospectus excerpt: This prospectus relates to our initial public offering of our 9.00% Fixed-to-Floating Rate Series B Non-Cumulative Perpetual Preferred Stock, par value $0.01 per share, or Series B preferred stock, with a liquidation preference of $10.00 per share of Series B preferred stock. We are a Texas-based financial services holding company offering banking, trust, investment advisory, securities brokerage and insurance services to high net worth individuals, small businesses and institutions across all 50 states. We are offering 1,500,000 shares of the Series B preferred stock. Prior to this offering, there have been no shares of Series B preferred stock issued or outstanding and there has been no established market for the Series B preferred stock. We have filed an application to list the Series B preferred stock on the NASDAQ Global Market, or NASDAQ, under the symbol “TECTP.” If the application is approved, trading of the Series B preferred stock on NASDAQ is expected to to begin within 30 days after the date of initial issuance of the Series B preferred stock.
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Territorial Bancorp is a savings and loan holding company. Through its subsidiary, Territorial Savings Bank (the Bank), Co. provides financial services to individuals, families and businesses through its banking offices located throughout the State of Hawaii. The Bank's business consists primarily of accepting deposits from the public and investing those deposits, together with funds generated from operations and borrowings, in one- to four-family residential mortgage loans and investment securities. Co. also originates home equity loans and lines of credit, construction, commercial and other nonresidential real estate loans, consumer loans, multi-family mortgage loans and other loans. Preferred: TECTP Open the TBNK Information Page » |
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