Boston, MA 06/10/2013 (wallstreetpr) – The shares of First Security Group Inc. (NASDAQ:FSGI) had declined by 54.53 percent to close at $2.06 per share for the end of last trading session on Friday. The shares of the company had been trading in the range of $1.84 to $2.20 during the day, before closing at $2.47 per share lower than the previous closing price for the weekend. The shares of First Security Group Inc. (NASDAQ:FSGI) had recorded 52 week low price level of $1.30 per share and 52 week high price level of $7.45 per share.
First Security Group Inc. (NASDAQ:FSGI) is involved in providing banking and other financial services to various communities in the eastern and middle Tennessee and Northern Georgia through its wholly owned subsidiary, First Security Group Bank (FSG Bank). The company operates its banking and financial services through 30 full service banks throughout the regions.
Resale of shares approved by SEC
The Securities and Exchange Commission of the United States had on Thursday approved the resale of 60.7 million shares of First Security Group Inc. (NASDAQ:FSGI) thereby declaring effective the registration statement filed by the company for the same. These shares registered by First Security Group Inc. (NASDAQ:FSGI) were issued by First Security Group Inc. (NASDAQ:FSGI) during the period of recapitalization in April.
First Security Group Inc. (NASDAQ:FSGI) presently 62.46 million shares outstanding in the market with an institutional ownership of 10 percent of its holdings. The average trading volume of the bank holding company is at 86,593 shares per day, which surged to 6.72 million shares on Friday.
