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TNBANK announces stock split


Tennessee Valley Financial Holdings, Inc., parent company of TNBANK, announced that its board of directors declared a two for one stock split for holders of its shares on May 1. It also announced that it has filed a registration statement with the U. S. Securities and Exchange Commission for a proposed public offering of approximately $8 million of its common stock.

This offering will be made only by means of a prospectus. Upon commencement of the offering, a prospectus meeting the requirements of Section 10 of the Securities Act of 1933 may be obtained from the following address or telephone number: Tennessee Valley Financial Holdings, Inc., Attention: Vice Presidents Jason Wilkinson or Lois Hart, 401 S. Illinois Ave., Oak Ridge, Tenn., 37830. Telephone number is 865-483-9444.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission, but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement bec-omes effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdictions.

Tennessee Valley Financial Holdings, Inc. is the parent company of TNBANK with headquarters in Oak Ridge. Chartered in 1995, it has more than 700 shareholders, almost $160 million in assets, five locations and more than 60 employees.

This announcement includes forward-looking statements. These forward-looking statements include statements with respect to our anticipated common stock offering.

However, by their nature, these forward-looking statements involve numerous assumptions, uncertainties and opportunities, both general and specific. The risk exists that these statements may not be fulfilled.

We caution readers not to place undue reliance on these statements as a number of factors could cause future company results to differ materially from these statements.

 

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