Saigon National Bank Approved for Preferred Shares Sale of $1,200,000 to the U.S. Treasury WESTMINSTER, Calif., Oct. 27, 2008 (GLOBE NEWSWIRE) -- Saigon
National Bank (OTC BB:SAGN.OB - News) has received approval of U.S.
Treasury's investment and purchase of preferred shares in
the bank. The investment by Treasury will equate to 3% of
risk-weighted assets, the maximum the Treasury can invest
in any bank under the program rules. The addition of U.S. Treasury 's purchase of preferred shares will increase the bank's Tier 1 capital to 24.7% as of September 30, 2008. The additional capital will allow the bank to increase its lending activity in the local community. Contact: Saigon National Bank
J. Kennedy, President & CEO
714-338-8700
Source: Saigon National Bank
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