Community Shores Bank Corporation (OTCMKTS:CSHB) Files An 8-K Termination of a Material Definitive AgreementItem 1.02
On March 16, 2017, the Federal Reserve Bank of Chicago publicly announced the termination of its Written Agreement with Community Shores Bank Corporation. The Written Agreement was entered into in December of 2010. A copy of the Written Agreement was included as Exhibit 10.1 to the Company’s Form 8-K filed December 21, 2010.
Going forward, the Federal Reserve Bank of Chicago requests that the Company obtain written approval at least 30 days prior to declaring or paying a dividend on any class of its stock; increasing its debt, including the issuance of trust preferred securities; or redeeming any Company stock.
About Community Shores Bank Corporation (OTCMKTS:CSHB)
Community Shores Bank Corporation is a bank holding company. The Company owns all of the common stock of Community Shores Bank (the Bank). The Bank provides commercial and consumer banking services primarily in the communities of Muskegon County and Northern Ottawa County. The Bank’s services include checking and savings accounts, certificates of deposit, electronic banking services, safe deposit boxes, courier service, and loans for commercial and consumer purposes. Electronic banking services, such as automated clearing house (ACH) and online bill pay, are offered to both personal and business customers. The Bank also uses alternative funding sources as needed, including advances from the Federal Home Loan Bank and obtaining deposits through an Internet deposit listing service. The Bank offers a range of deposit services, including checking accounts, savings accounts and time deposits of various types. Community Shores Bank Corporation (OTCMKTS:CSHB) Recent Trading Information
Community Shores Bank Corporation (OTCMKTS:CSHB) closed its last trading session 00.00 at 2.75 with 100 shares trading hands.
