Hide Article Text (OCR)
A group of businessmen head ed by Allen Rosenberg has acquired control and 66 per cent of the Pioneer Bank of Arizona. Rosenberg is president of the Bank of Scottsdale and of the Phoenix Chamber of Commerce. The 104,159 shares of stock bought by the Rosenberg group from Financial Corporation of Arizona are valued at $3,025,000 officials said. ERNEST FANNIN, Pioneer Bank board chairman, said there are a total of 157,334 shares outstanding. The purchase, Rosenberg stated, is a separate investment and merger of Pioneer with Bank of Scottsdale has not been discussed. The Pioneer Bank has a main office and two branches here, and a branch in Prescott. THE PRESENT management at Pioneer will continue, offici als said. Pioneer management includes Kenneth E. Johnson, president and director; D. L. Moore, ex ecutive vice president and di rector; Somers H. White, execu tive vice president and director, and Charles A. Roloff, senior vice president. Chairman Fannin, a brother of Sen. Paul Fannin, said the sale represents a progressive step in development of Pioneer and growth of Arizona. ROSENBERG said, “We are delighted at the opportunity for investment in this sound and well-managed bank; it is our intention to lend impetus to its continued growth.’’ He said he could not yet disclose the names of his associates. Pioneer Bank's main office is in the Financial Center, Central and Osborn. It has a downtown office in the Arizona Title Build ing and a branch at 2606 N. Cen tral. Gazette Staff Photo Completing sale of Pioneer Bank of Arizona stock are Ernest Fannin (left), the bank's board chairman; Kenneth E. Johnson (standing), its president, and Allen Rosenberg, president of the Bank of Scottsdale and head of the group acquiring Pioneer Bank control.
Newspaper Details
Phoenix Gazette
Phoenix, Arizona, US
Sat, Apr 03, 1965
Page 22
Full Page
Clipped by
Curtis W.
USA 01 Jun 2026
Other Publications Near Phoenix, Arizona
Phoenix Arizona Republican
Phoenix Arizona Republic
Phoenix Gazette
Arizona Republic
Arizona Weekly Gazette
