Trans-Coast Investment Co.
List of Deals
The Trans-Coast Investment Company was incorporated in California on December 22, 1958. It served as a holding company for three thrift institutions: Van Nuys Savings & Loan Association (wholly owned), Oxnard Savings & Loan Association (99.5 percent owned) and Santa Maria Savings & Loan Association (93.28 percent owned). It also operated as a life and fire insurance agent under the name Trans-Coast Insurance Agency.
Trans-Coast had $138.7 million in assets in 1960 and earned $57,580 from revenue of $8.9 million.
In August 1960 underwriters headed by Lehman Brothers offered a combined block of 375,000 shares of common stock at fifteen dollars per share in a deal valued at $5.625 million. Of the total stock offered, 320,916 shares were sold for the account of certain stockholders and none of the proceeds from their sale accrued to the firm. The remaining 54,084 shares represent new financing by Trans-Coast.