OCR Text |
Show BANK INCREASING CAPITALIZATION Notice of a special meeting of the stockholders of the Bank of Pleasant Pleas-ant Grove is set forth elsewhere in this paper. This meeting is called for the purpose of amending the Articles of Incorporation of the Bank to increase the capital stock of the institution in order that it may become a member of the Federal Fed-eral Reserve System, and to qualify quali-fy for the Federal Guarantee Deposit De-posit requirements. At the present time the Bank of Pleasant Grove is capitalized at $20,000.00, and the minimum' requirements re-quirements to become a member of the Federal Reserve System is $25,-000.00. $25,-000.00. It becomes necessary therefore, there-fore, to increase the capital stock of the Bank to such an amount. This will not only meet the requirement require-ment of law, but will add to the strength of the position of the Bank. n |