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People's Bank of Commerce offering common shares

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People's Bank of Commerce offering common shares

People's Bank of Commerce is offering for sale up to 335,570 shares of its common stock to existing shareholders, employees and the public at $14.90 per share.

The offering will begin Oct. 25 and expire Dec. 30.

The Medford, Ore.-based bank is offering the shares exclusively to current shareholders on a pro rata basis until Nov. 29. Afterward, any unsold shares will be offered to the bank's employees, current shareholders desiring to purchase additional shares above their pro rata amount and to other interested investors.

The directors and officers of People's Bank of Commerce will conduct the offering, for which they will receive no commissions. Net proceeds of the transaction, after payment of expenses, will be used for capital to support further growth of the bank.