August 10, 1995 in Nation/World

Yo, Adrian! Let’s Buy A Bank

Associated Press
 

“Rocky” has bought a piece of a bank.

Actor Sylvester Stallone’s investment in Yardville National Bancorp. was disclosed in a filing with the Securities and Exchange Commission.

The star of “Rocky” and “Rambo” movies said in the document that his investment firm, White Eagle Enterprises of Trenton, N.J., has acquired a 7.1 percent stake in the bank. Stallone is listed as sole director, officer and shareholder of White Eagle, which trades and invests in stocks and bonds for Stallone’s personal account.

Since June 14, Stallone and White Eagle paid $308,987.50 to acquire 23,100 shares of Yardville, a banking company based in Mercerville, N.J. Stallone paid between $13 to $15 a share for the small banking company.

A search of the SEC’s computer database showed White Eagle had repaid a $5.4 million debt to Carolco Pictures Inc., according to the filmmaker’s annual report filed in April.

© Copyright 1995 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.


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