ST. PETERSBURG, Fla., July 8, 2005 (PRIMEZONE) -- Spartan Securities Group, Ltd.'s SEC-registered affiliated transfer agency -- Island Stock Transfer, today announced that it has developed a specialized registrar and transfer service designed specifically to meet the needs of the de novo / early stage community bank.
For a fixed monthly price of $100, a de novo or community bank will receive:
Service Special De Novo /
Community Bank Pricing
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Initial set-up of shareholder list Included in base fee
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Initial issuance of certificates Included in base fee
to de novo stock subscribers (up to 300 shareholders)
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Ongoing routine and non-routine Included in base fee
company issuances (up to 10 per month)
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Postage, etc. At cost
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Custodial Services for de novo No Charge to company
shareholders
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Month maintenance of shareholder Included in base fee
records
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"De novo and early stage community banks often offer stock to members of their community through exempt or small public offerings," commented Micah J. Eldred, president of Spartan Securities Group, Ltd. "These companies become quasi-public companies, with between 100 and 300 shareholders; and, as such, are at a level where they find it more efficient and convenient to outsource their registrar and transfer services. With the new fixed rate pricing structure, de novo and community banks can take advantage of the full services offered by an SEC-registered transfer agent at a very aggressive pricing structure. We are able to offer these services to those de novo banks who offer our share custodial services to their stockholders. Additionally, Spartan Securities Group customarily will make a market in the stock of each of our de novo and community bank clients."
About Spartan Securities Group, Ltd.:
Spartan Securities Group, Ltd. is a privately held broker-dealer located in St. Petersburg, FL. Additional information can be found at www.spartansecurities.com and www.islandstocktransfer.com. Member NASD / SIPC.