Southwest Bancorp, parent of Southwest Bank, will offer $4 million of convertible subordinated debentures, due 1991. The company is $815,000 in arrears on dividends due preferred shareholders, and a successful offering will enable the Vista-based company to begin paying the dividends.
FOR THE RECORD
Los Angeles Times Wednesday March 19, 1986 San Diego County Edition Business Part 4 Page 2 Column 6 Financial Desk 2 inches; 43 words Type of Material: Correction
Southwest Bancorp, parent of Vista-based Southwest Bank, has not determined how it will use proceeds of $4-million convertible subordinated debentures. A story in Tuesday's editions of The Times said that a successful offering would enable the company to begin paying $815,000 in dividends in arrears.