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Peoples BancTrust to remain independent


Published : Wed, 21 Mar 2007 23:04
By : Agencies
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SELMA, Ala. (AP) - Alabama-based bank holding company Peoples BancTrust Co. said Wednesday its board has decided the company should remain independent, following a review of strategic alternatives that was launched in December.

The company said it had been considering a possible sale, but instead will pursue a business strategy that calls for expanded lending operations and more branches.

Peoples BancTrust also said it will pay continued attention to its operating costs.

Shares of Peoples BancTrust, which has 25 offices in Alabama, slipped 40 cents to close earlier at $22.51 on the Nasdaq Stock Market.

Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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