James Clark - email
LUBBOCK, TX (KCBD) - A privately owned investment firm wants some help from Texas Tech Chancellor Kent Hance to shake up the management at a Houston bank. The investment firm, TAC Capital, in Bryan Texas says Sterling Bank has lost nearly 9% of its value and is failing to recover from recession while other banks are recovering.
TAC Capital sent a letter to Sterling Bank stockholders last week asking support to elect five men to the Sterling board of directors including Hance. TAC owns 10% of Sterling Bancshares. Sterling has $5 Billion in assets and declared a modest 3rd quarter profit along with a small dividend on October 28th.
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