Home Federal of Upper East Tennessee Stockholders Approve Formation of Holding Company; Meeting Results

Stockholders of Home Federal Savings and Loan Association of Upper East Tennessee (NASDAQ/NMS:HFET) Wednesday voted to approve the reorganization of the association into a holding company, called Home Financial Corp. Speaking to stockholders gathered for the 1989 annual meeting, Vance W. Cheek, chai...

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Bibliographic Details
Published inBusiness Wire p. 1
Main Author Perry, Cameron E
Format Newsletter
LanguageEnglish
Published New York Business Wire 26.04.1989
Subjects
Bank holding companies
Bewley, Joseph L
Career histories
Chairman of the board
Cheek, Vance W
Corporate reorganization
Directors
Diversification
Gordon, Charles O
MacLean, James R
Savings & loan associations
South Central
Stockholders
United States > US
Johnson City
TN
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Summary:Stockholders of Home Federal Savings and Loan Association of Upper East Tennessee (NASDAQ/NMS:HFET) Wednesday voted to approve the reorganization of the association into a holding company, called Home Financial Corp. Speaking to stockholders gathered for the 1989 annual meeting, Vance W. Cheek, chairman of the board and chief executive officer, said the new holding company structure would be more flexible than Home Federal's current organization in permitting additional diversification and said that acquisition activities could be accomplished more easily and advantageously, although no specific acquisitions are planned or pending. (excerpt)