FEASTERVILLE, Pa. - Investors looking for answers to IGA Savings Bank's investment in BankZip.com may get them soon when the bank's 10-K is filed with the Securities and Exchange Commission. The 10-K is scheduled to be filed on March 31. The former I.G.A. FCU has come under heavy criticism from investment firms with a stake in the bank for investing $2 million in a dot.com company. The investors said they thought they were investing in a community financial, not a dot.com company. A spokesperson for IGA Savings said the 10-K should give investors a good explanation of the scope of the investment in BankZip.com and the reasons behind it. All along the bank has maintained that the investment in BankZip.com was necessary to serve its customers remotely. BankZip.com is an Internet banking alliance of community banks. IGA Savings has $200 million in assets and 23,000 customers.
IGA's 10-K may shed light on dot.com investment
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