Business & Finance
Business and Finance
Business and Finance
Thu, February 24, 2011 
MARLTON, N.J.--([ BUSINESS WIRE ])--Liberty Bell Bank (OTC: LBBB) today announced that it successfully raised $690,000 through the sale of 206,170 shares of authorized common stock. No broker, investment banking firm or other intermediary was used in connection with the sale of this stock. All marketing efforts were performed by the Banka™s own personnel. The bank initiated a public offering in October 2010 that ran through its expiration on February 12, 2011. The bank was seeking additional capital to maintain favorable capital ratios and to support available growth opportunities, as well as to help position the bank for potential new business line opportunities.
"We fully recognized that this is an especially difficult time and environment to raise capital for community banks and we are quite pleased with the results of the offering and the show of confidence from existing shareholders. We are especially pleased to welcome new shareholders from this offering"
aWe fully recognized that this is an especially difficult time and environment to raise capital for community banks and we are quite pleased with the results of the offering and the show of confidence from existing shareholders. We are especially pleased to welcome new shareholders from this offering,a said President and CEO Kevin Kutcher, who added, athis added capital will allow us to maintain our favorable capital ratios and support profitable interim growth. This also allows us to continue developing our thoughts and strategic plans in the area of potential new business, particularly in the area of wealth management services.a
ABOUT LIBERTY BELL BANK
Liberty Bell Bank, a New Jersey state-chartered community bank, commenced operations in August 2003. The bank emphasizes customer and community service, responsive local decision making, convenient access to senior management, experienced dedicated employees who can think creatively and up to date technology for household and business banking. The bank provides not only highly personalized deposit and loan services to individuals and small to medium sized businesses but also financial and volunteer support to a variety of community, business and charitable organizations.
Some discussions in this press release may contain forward-looking statements. These forward-looking statements, include statements of the Banka™s plans, objectives, expectations, estimates and intentions, involve risks and uncertainties and are subject to change based on various important factors (some of which are beyond the Banka™s control). The following factors, among others, could cause the Banka™s financial performance to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements: the strength of the United States economy in general and the strength of the local economies in which the Bank conducts operations; the effects of, and changes in, trade, monetary and fiscal policies and laws, including interest rate policies of the Board of Governors of the Federal Reserve System, inflation, interest rate, market and monetary fluctuations; the perceived overall value of the Banka™s products and services by users, including the features, pricing and service compared to competitorsa™ products and services; the impact of changes in financial servicesa™ laws and regulations; increased deposit insurance assessments; increased shareholder activism; technological changes; acquisitions; changes in consumer spending and saving habits; and the success of the Bank at managing the risks involved in the foregoing. The Bank cautions that the foregoing list of important factors is not exclusive. The Bank also cautions readers not to place undue reliance on these forward-looking statements, which reflect managementa™s analysis only as of the date on which they are given.
