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Vineyard National Bank Preferred (fka VNBAQ) RSS Feed

Followers
6
Posters
19
Posts (Today)
0
Posts (Total)
402
Created
12/17/08
Type
Free
Moderators

 

Company's Online Information Links
HOME PAGE:     http://www.vineyardbank.com/
Company's Investor Relations Information Goto Investor Relations Information
Company's Online News Releases Goto News Releases
Online Company Profile Goto Online Profile
Company's Online Government Filings Links
Company's SEC EDGAR Filings Goto SEC Filings
Company's Email Address Links
Email Address shareholderinfo@vineyardbank.com
Email Request Form on Website Goto Email Form

 

Address and Phone Numbers
Address:   1260 Corona Pointe Court, Corona, Ca 92879
Main Phone Number 951-893-2979
Fax Number Not Available
Investor Relations   Ms. Terra Newcomer Hagel 951-271-4232
Toll Free Phone Number 888-484-6392
CEO - Norman Morales CFO - Gordon Fong

VXC-D  or VXC.PR.D

 CORONA, CA--(Marketwire - June 27, 2007) - Vineyard National Bancorp (NASDAQ: VNBC) ("the company") announced today the closing, on June 26, 2007, of the offering of 2,300,000 shares of the company's 7.50% Series D Noncumulative Preferred Stock, with a $10.00 liquidation preference per share. The dividend on each Series D preferred share will accrue at a fixed rate of 7.50% per annum. If declared by the board of directors, dividends will be payable quarterly on the Series D preferred shares, commencing on September 15, 2007, on a noncumulative basis. The Series D preferred shares may be redeemed for cash at their $10.00 liquidation preference, in whole or in part, at any time on or after June 25, 2012. The Series D preferred shares are not convertible into or exchangeable for any other property or securities of the company.

 

About Vineyard National Bancorp

The Company is a $2.5 billion financial holding company headquartered in Corona and the parent company of Vineyard, 1031 Exchange Advantage Inc., and 1031 Funding & Reverse Corp (collectively, "the exchange companies"). Vineyard, also headquartered in Corona, operates through 16 full-service banking centers and three regional financial centers in the counties of Los Angeles, Marin, Orange, Riverside, San Bernardino, San Diego, Santa Clara and Ventura, CA. The exchange companies are headquartered in Encinitas, CA. The Company's common stock is traded on the NASDAQ Global Market System under the symbol "VNBC." For additional information on the Company visit www.vnbcstock.com or for additional information on Vineyard and to access internet banking, please visit www.vineyardbank.com. For additional information on the exchange companies visit www.1031exchangeadvantage.com.

ABOUT VXC-D or VXC.PR.D -

CORONA, CA--(Marketwire - June 27, 2007) - Vineyard National Bancorp (NASDAQ: VNBC) ("the company") announced today the closing, on June 26, 2007, of the offering of 2,300,000 shares of the company's 7.50% Series D Noncumulative Preferred Stock, with a $10.00 liquidation preference per share. The dividend on each Series D preferred share will accrue at a fixed rate of 7.50% per annum. If declared by the board of directors, dividends will be payable quarterly on the Series D preferred shares, commencing on September 15, 2007, on a noncumulative basis. The Series D preferred shares may be redeemed for cash at their $10.00 liquidation preference, in whole or in part, at any time on or after June 25, 2012. The Series D preferred shares are not convertible into or exchangeable for any other property or securities of the company.

The net proceeds of the offering are estimated to be approximately $22 million. The company has applied to list the Series D Preferred Stock on the American Stock Exchange under the symbol "VXC.prD." The company expects the Series D preferred shares to begin trading on the American Stock Exchange within 30 days. RBC Capital Markets acted as the sole underwriter for the offering.

"We intend to use the net proceeds from the sale of the Series D preferred shares for working capital and for general corporate purposes," said Norman Morales, president and chief executive officer. "We felt this offering of preferred stock was the most efficient way to raise tier 1 capital, given the current market conditions relative to the company's common stock valuation and the requisite coupon rate for the preferred. We believe that, with this capital offering now complete, and together with the capital formation rate of the company, the company's capital ratios will accrete to its targeted levels by the end of this operating year."

About Vineyard National Bancorp

The company is a $2.4 billion financial holding company headquartered in Corona, Calif., and the parent company of Vineyard Bank, N.A. ("Vineyard"), also headquartered in Corona. Vineyard operates through 16 full-service banking centers and five corporate production offices in the counties of Los Angeles, Marin, Monterey, Orange, Riverside, San Bernardino, San Diego, Santa Clara and Ventura, Calif. The company's common stock is traded on the NASDAQ Global Market System under the symbol "VNBC." For additional information on the company visit www.vnbcstock.com or for additional information on Vineyard and to access internet banking, please visit www.vineyardbank.com.

Check out the VNBC board by clicking http://investorshub.advfn.com/boards/board.aspx?board_id=12316

VOLUME LOVERS: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=34258272

08/31/07 11,400 10.25 9.75 10.00 9.94
09/28/07 22,200 10.05 8.40 9.94 9.75
10/31/07 15,700 9.70 9.06 9.60 9.70
11/30/07 62,215 9.70 5.46 9.70 7.55
12/31/07 172,500 9.04 6.48 7.65 7.75
01/31/08 37,000 8.20 7.45 7.80 8.00
02/29/08 35,200 8.15 7.61 8.00 7.90
03/31/08 29,700 10.00 7.26 7.70 7.40
04/30/08 153,966 7.75 3.50 7.50 3.87
06/30/08 95,150 3.40 1.40 1.50 3.30
07/31/08 103,775 3.60 1.15 3.60 1.25
08/29/08 189,525 1.30 0.10 1.30 0.25
09/30/08 61,632 1.10 0.20 0.30 0.59
10/31/08 60,500 0.63 0.25 0.59 0.25

PROSPECTUS: CLICK HERE http://www.sec.gov/Archives/edgar/data/840256/000095012407003381/v31126fe424b2.htm

http://www.marketwatch.com/quotes/vxcprd?dist=mktwqn

The amount which the holders of outstanding Series D preferred shares will be entitled to receive in the event of our liquidation, dissolution or winding up, whether voluntary or not, after payment or provision for payment of our debts and other liabilities, out of our assets available for distribution to stockholders, before any distribution of assets is made to the holders of the common stock or any Junior Stock as to distributions, will be $10.00 per share plus dividends declared and unpaid, to the date fixed for liquidation, dissolution or winding up, before any amount is paid or distributed among the holders of common stock or other Junior Stock.

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