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SCHEDULE 14A
(RULE 14a-101)
INFORMATION REQUIRED IN PROXY STATEMENT
SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934
Filed by the Registrant [X]
Filed by a Party other than the Registrant [ ]
Check the appropriate box:
[ ] Preliminary Information Statement [ ] Confidential, for use of
[ ] Definitive Information Statement the Commission only (as
[ ] Definitive Additional Materials permitted by Rule 14a-6(e)(2))
[X] Soliciting Material Pursuant to Rule 14a-12
PARK MERIDIAN FINANCIAL CORPORATION
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(Name of Registrant As Specified In Charter)
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(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
Payment of Filing Fee (Check the appropriate box):
[X] No fee required.
[ ] Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and
0-11.
(1) Title of each class of securities to which transaction applies:
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(2) Aggregate number of securities to which transaction applies:
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(3) Per unit price or other underlying value of transaction
computed pursuant to Exchange Act Rule 0-11(set forth the
amount on which the filing fee is calculated and state how it
was determined):
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(4) Proposed maximum aggregate value of transaction:
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(5) Total fee paid:
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[ ] Fee paid previously with preliminary materials.
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[ ] Check box if any part of the fee is offset as provided by
Exchange Act Rule 0-11(a)(2) and identify the filing for which
the offsetting fee was paid previously. Identify the previous
filing by registration statement number, or the form or
schedule and the date of its filing.
(1) Amount Previously Paid:
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(2) Form, Schedule or Registration Statement No.:
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(3) Filing Party:
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(4) Date Filed:
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FOR IMMEDIATE RELEASE CONTACT: KEVIN T. KENNELLY
President & CEO
Park Meridian Financial Corporation
(704) 366-7275
PARK MERIDIAN FINANCIAL CORPORATION ANNOUNCES
2ND QUARTER EARNINGS
CHARLOTTE, NC - AUGUST 9, 2001 - Park Meridian Financial Corporation (OTCBB -
PMFN), the holding company for Park Meridian Bank, today reported net income for
the second quarter of 2001.
Net income for the three months ended June 30, 2001 was $679,000, up 7.3% over
earnings of $633,000 reported for the second quarter of 2000. Net income for the
first six months of 2001 was $1,435,000, representing a 21.9% increase over that
for the first six months of 2000. Total assets as of June 30, 2001 were
$298,222,000, an increase of $31,233,000, or 11.7%, compared to June 30, 2000
total assets of $266,989,000. Deposits increased by $22,381,000 to $205,785,000
at June 30, 2001 compared to $183,404,000 at June 30, 2000, an increase of
12.2%.
Park Meridian Financial Corporation is a bank holding company based in
Charlotte, N.C. Its principal activity is the ownership of Park Meridian Bank, a
private bank with two offices in Charlotte and a third in the Lake Norman area.
The bank conducts activities in the areas of commercial banking, equipment
leasing, wealth management and mortgage banking.
Park Meridian Financial Corporation and Regions Financial Corporation jointly
announced on June 27, 2001 that they have signed a definitive agreement that
provides for the acquisition of Park Meridian by Regions in a stock-for-stock
merger. The merger is expected to be consummated during the fourth quarter of
2001, pending approval of Park Meridian's shareholders and regulatory
authorities, and other customary conditions of closing.
Park Meridian's common stock is traded over-the-counter on the NASD electronic
bulletin board under the symbol "PMFN." Regions' common stock is traded in the
Nasdaq National Market System under the symbol "RGBK."
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The proposed transaction will be submitted to Park Meridian's shareholders for
their consideration, and Regions will file with the SEC a registration
statement, which shall contain a proxy statement-prospectus to be used by Park
Meridian in connection with its solicitation of shareholder approval for the
proposed transaction, as well as other relevant documents concerning the
proposed transaction. Park Meridian shareholders are urged to read the
registration statement and the proxy statement-prospectus regarding the proposed
transaction when they become available and any other relevant documents filed
with the SEC, as well as any amendments or supplements to those documents,
because they will contain important information. You will be able to obtain a
free copy of the proxy statement-prospectus included in the registration
statement, as well as other filings containing information about Park Meridian
and Regions, at the SEC's Internet site (http://www.sec.gov). Copies of the
proxy statement-prospectus and the SEC filings that will be incorporated by
reference in the proxy statement-prospectus can also be obtained, without
charge, by directing a request to Park Meridian, Joseph M. Dodson, Park Meridian
Financial Corporation, Post Office Box 11816, Charlotte, North Carolina 28220
(704-366-7275), or to Regions, Ronald C. Jackson, Senior Vice President and
Director of Investor Relations, Regions Financial Corporation, 417 North 20th
Street, Birmingham, Alabama 35203 (205-326-7374).
Park Meridian and its directors and executive officers may be deemed to be
participants in the solicitation of proxies from the shareholders of Park
Meridian in connection with the merger. Information about the directors and
executive officers of Park Meridian and their ownership of Park Meridian common
stock is set forth in the proxy statement, dated April 15, 2001, for Park
Meridian's 2001 annual meeting of shareholders, as filed with the SEC on a
Schedule 14A on April 6, 2001 (available on the SEC's Internet site at
http://www.sec.gov). Additional information regarding the interests of those
participants may be obtained by reading the proxy statement-prospectus regarding
the proposed transaction when it becomes available.