Frontier Financial shareholders approve increase in number of authorized shares

Shareholders approve increase in Frontier shares

EVERETT, Wash. — Frontier Financial Corp. on Tuesday said its shareholders approved an increase in the number of shares of common stock for the bank company.

In a special meeting, shareholders approved a plan to increase the authorized number of common shares to 200 million from 10 million, and the total number of all shares of stock, including 10 million shares of preferred stock, to 210 million. No shares of preferred stock have been issued.

Approximately 68 percent of the voting power of the outstanding shares entitled to vote was represented in person or by proxy at the meeting, Frontier Financial said.

Frontier shares gained 4 cents to $5.06 in afternoon trading.