Chino Commercial Bancorp, parent company of Chino Commercial Bank, announced a rights offering for current shareholders to acquire additional stock.
As of the scheduled record date, close of business Nov. 18, shareholders who choose to participate will be able to purchase three shares of common stock for each 10 shares already owned. Share prices have yet to be announced, “but will approximate the fair market value of the shares at the commencement of the offering as determined by the board of directors,” the company announced.
Shareholders who exercise their subscription rights will also receive bonus shares equal to 5 percent of shares purchased through the rights offering. Shareholders may also be able to purchase additional shares, with bonus shares attached, subject to availability.
Subscription rights will be exercisable until 5 p.m. Pacific Time on Jan. 20, although the Chino Commercial Bancorp may extend the subscription period.