Company trimming number of shareholders
SAVOY – Paris-based First BancTrust Corp., which has banking offices in Savoy and Rantoul, plans to cut the number of its shareholders so it will no longer have to file periodic reports with the Securities & Exchange Commission.
The company – which operates First Bank of Savoy and First Bank of Rantoul – announced Monday that the increasing costs of being an SEC-registered, Nasdaq-traded company aren't justified by the benefits, given the company's limited trading activity.
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