TSBB News out dont miss
Growth Company TS&B Holdings, Inc. Announces Acquisition of Cummings Financial Services, Inc.
ORLANDO, Fla., May 17, 2004 (PRIMEZONE via COMTEX) -- TS&B Holdings, Inc. ("Company" or "TS&B") (TSBB) announced it recently completed the acquisition of Cummings Financial Services, Inc., (CFS) 711 N. Parsons Ave., Brandon, Florida.
Cummings Financial Services is a residential mortgage company started in 1998. The company employs 20 people. In 2003 CFS processed $26.5M in loans with gross revenues from fees in excess of $850,000. CFS has financing relationships with over 450 financial institutions allowing CFS to guarantee its clients the lowest possible rate. CFS also has a secondary revenue source through its relationship with a title company.
The CEO of TS&B Holdings Inc., James E. Jenkins stated, "We're very excited about our investment in Cummings Financial. This acquisition gives TS&B another revenue source to add to its portfolio. The Company will now place all of its commercial loan requests through Cummings Financial, giving it another source of income. We look to expand their revenue base to over $2M annually without adding any substantial overhead."
About TS&B Holdings Inc.
TS&B Holdings Inc., is a Business Development Company under the Investment Act of 1940 aggressively seeking opportunities in emerging and fast growth industries.
Safe Harbor
The statements made in this release constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "expect," or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, changing economic conditions, interest rates trends, continued acceptance of the Company's products in the marketplace, competitive factors and other risks detailed in the Company's periodic report Filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
SOURCE: TS&B Holdings Inc.
Honeycutt Capital Group, LLC., Tulsa, Oklahoma 918-392-0336 Honeycuttcapital@hotmail.com
(C) 2004 PRIMEZONE, All rights reserved.
______________________________________________
AI
