South Valley reports plans to hold initial public offering of stock

D.A. Davidson is underwriter; company will trade on Nasdaq exchange

By Devika Patel

Knoxville, Tenn., July 29 - South Valley Bancorp, Inc. plans to price its initial public offering of stock, according to an S-1 filed Friday with the Securities and Exchange Commission. It expects the shares to trade on the Nasdaq exchange under the symbol "SVBT."

D.A. Davidson & Co. is the underwriter.

Proceeds will provide capital to South Valley Bank & Trust to strengthen its regulatory capital, support the bank's long-term growth and will also be used for general corporate purposes.

Based in Klamath Falls, Ore., South Valley Bancorp is the holding company for South Valley Bank & Trust.

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