Attorneys & Professionals
Kimberly Schaefer, a partner in the Vorys Cincinnati office, was featured in a Bank Director article titled “Being Public: Is It Worth It?” The article, focused the changes included in the Jumpstart our Business Startups (JOBS) Act that have made it easier for banks to remain private and asked attorneys to respond to the following question “Does it make sense for banks with less than $500 million in assets to be public companies?”
Schaefer responded by saying:
“After the JOBS Act increased thresholds for registration from 500 shareholders to 2,000 and deregistration from 300 shareholders to 1,200, many banks have been closely examining the practicality of being a public company, especially considering the tremendous expense and additional regulation. However, the sensibility of that decision truly rests in the bank’s strategic plans for its future. How does the bank want to position itself? If a bank wants to expand its market or services, or if it wants (or needs) to raise capital, its prospects for doing so are much brighter as a public company.”
To read the rest of Schaefer’s response and the entire article, visit the Bank Director website.