| Pacific State Bancorp (OTCBB: PSBC) today announced that it has declared a 2-for-1 split of its common stock. Every stockholder of record as of September 30, 2003 will receive two shares in exchange for every one share held. The company expects that stock certificates reflecting the split will be distributed to stockholders by the Company?s Transfer Agent Mellon Investor Services as soon as practicable after the record date. After the split, Company shareholders will have approximately 1,687,868 million shares outstanding. Shareholders should retain their existing certificates and no certificates should be tendered to the Company or the Transfer Agent in connection with the split.
"This split should provide greater liquidity for our current stockholders, and make Pacific State Bancorp stock more attractive to investors," said Steven Rosso, CEO of Pacific State Bancorp.
Pacific State Bancorp is the holding company for Pacific State Bank, a California state chartered bank, operating seven branches in Central California , including two branches in Stockton , and branches in Modesto , Groveland, Arnold , Angels Camp and Tracy . The Bank?s primary source of revenue is providing loans to customers who are predominately small to middle-market businesses and middle-income individuals.
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