Charter Financial, West Point Georgia, States It Is Not Being Acquired
March 05 2007 - 12:58PM
PR Newswire (US)
News Reports Cause Confusion Between the Georgia-Based Company and
Similarly-Named Organization in Washington WEST POINT, Ga., March 5
/PRNewswire-FirstCall/ -- In an effort to eliminate confusion
created by announcements made by other parties, Charter Financial
Corporation (OTC:CHFN) (BULLETIN BOARD: CHFN) stated today that it
is not the subject of an acquisition. Charter Financial said the
company mentioned in the news is a state of Washington entity with
a similar name. Charter Financial is headquartered in Georgia and
has operations there and in Alabama. Several news organizations,
most notably certain financial news websites, mistakenly assumed
this company was the organization referred to in announcements made
earlier today. The company is attempting to have news items
regarding the transaction eliminated from pages referring to it.
Robert L. Johnson, president and ceo said, "We have received a
number of inquiries regarding this news item. We regret the
confusion and any anxiety this situation has caused our
shareholders. Although the announcement had nothing whatever to do
with us, the similarity of our corporate name, combined with the
automated nature of some news reporting organizations, caused the
announcement to be mistakenly associated with us. "We wish to state
clearly we are not being acquired and there has been no change in
the status of shareholders' investments in Charter Financial
Corporation," Johnson asserted. About Charter Financial Charter
Financial Corporation is a savings and loan holding company and the
parent company of CharterBank, a full-service community bank and a
federal savings institution. Charter Financial Corporation and its
subsidiary, CharterBank, are in a mutual holding company structure.
Charter Financial owns 3.4 million shares of Freddie Mac common
stock with a market value of $231.0 million. CharterBank is
headquartered in West Point, Georgia, and operates nine
full-service branches on the I-85 corridor from LaGrange, Georgia
to Auburn, Alabama. CharterBank's deposits are insured by the
Federal Deposit Insurance Corporation. Forward-Looking Statements
This release may contain "forward-looking statements" that may be
identified by use of such words as "believe," "expect,"
"anticipate," "should," "planned," "estimated," and "potential."
Examples of forward-looking statements include, but are not limited
to, estimates with respect to our financial condition and results
of operation and business that are subject to various factors that
could cause actual results to differ materially from these
estimates. These factors include but are not limited to general and
local economic conditions; changes in interest rates, deposit
flows, demand for mortgages and other loans, real estate values,
and competition; changes in accounting principles, policies, or
guidelines; changes in legislation or regulation; and other
economic, competitive, governmental, regulatory, and technological
factors affecting our operations, pricing, products, and services.
Any or all forward-looking statements in this release and in any
other public statements we make may turn out to be wrong. They can
be affected by inaccurate assumptions we might make or known or
unknown risks and uncertainties. Consequently, no forward-looking
statements can be guaranteed. The Company disclaims any obligation
to subsequently revise or update any forward-looking statements to
reflect events or circumstances after the date of such statements
or to reflect the occurrence of anticipated or unanticipated
events. DATASOURCE: Charter Financial Corporation CONTACT: Robert
L. Johnson, President & CEO, +1-706-645-1391, or , or Curt
Kollar, CFO, +1-706-645-3237, or , both of Charter Financial
Corporation
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