Old Harbor Bank Commences Public Stock Offering
06 June 2006 - 12:00AM
PR Newswire (US)
CLEARWATER, Fla., June 5 /PRNewswire-FirstCall/ -- Old Harbor Bank
(OTC:OHBK) (BULLETIN BOARD: OHBK) , a Florida chartered bank based
in Clearwater, Florida, announced today that it has commenced a
public offering of up to 800,000 shares of common stock at a price
of $17.00 per share. Old Harbor Bank opened in July 2003, has four
banking locations, with a fifth location scheduled to open in
mid-2006, and has grown to approximately $137 million in assets as
of March 31, 2006. The offering is expected to close on June 28,
2006. After the offering, shares of Old Harbor Bank will continue
to trade on the OTC Bulletin Board under the symbol "OHBK".
Kendrick Pierce Securities, Inc, a Tampa-based investment banking
firm, will serve as the Bank's sales agent for the offering. The
common stock offered by Old Harbor Bank is exempted from
registration with the SEC under federal securities laws. A
definitive Offering Circular is currently available for delivery to
members of the public and may be obtained by contacting Kendrick
Pierce Securities at (866) 254-2265, ext 205. The Offering Circular
includes important financial and operating information about Old
Harbor Bank and describes the offering in detail. Actual offers and
sales of shares by or on behalf of the Bank, and subscription
offers for the purchase of shares, may be made only by the Offering
Circular, and then only in those states where and when such offers
or sales are permitted. This press release shall not constitute an
offer to sell or the solicitation of an offer to buy, nor shall
there be any sale of the securities, in any state in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of such state. The offer
will be made only by the definitive or final form of the Offering
Circular. You are urged to read the Offering Circular carefully
before investing. The shares of common stock offered are not
deposit accounts and are not insured or guaranteed by the Federal
Deposit Insurance Corporation or any other government agency. Old
Harbor Bank can be found on the World Wide Web at
http://www.oldharborbank.com/ . Information on the Bank's website
is not part of, and shall not be incorporated by reference into,
the Offering Circular. Information contained in this press release,
other than historical information, may be considered
forward-looking in nature and is subject to various risks,
uncertainties and assumptions. Should one or more of these risks or
uncertainties materialize, or should underlying assumptions prove
incorrect, actual results may vary materially from those
anticipated, estimated or expected. Among the key factors that may
have a direct bearing on Old Harbor Bank's operating results,
performance or financial condition are fluctuations in market rates
of interest and loan and deposit pricing, adverse economic
conditions in the Bank's market area, competition, and other
factors discussed in the Offering Circular. DATASOURCE: Old Harbor
Bank CONTACT: Barry K. Miller or William W. Short, both of Old
Harbor Bank, +1-727-451-2265 Web site:
http://www.oldharborbank.com/
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