USA Bank Retains Investment Banker
02 9월 2009 - 3:34AM
Marketwired
USA Bank (OTCBB: USBK) is pleased to announce it has retained a
leading investment banking firm to assist in the consideration of
various strategic alternatives designed to maximize shareholder
value during these challenging economic times.
Laidlaw & Company (UK) Ltd. will help the bank extensively
review a broad range of options to grow its business, which may
include the issuance of equity to bolster its capital structure, or
a sale or merger of the Bank.
USA Bank Chairman, Fred A. DeCaro III, said, "Having received
several overtures from different groups interested in acquiring the
Bank or making a substantial new investment in the Bank, our Board
has determined that all parties having a vested interest would
benefit from a formal process to consider our future options."
In addition, Mr. DeCaro said, "It is readily apparent to the
Board that we have a variety of alternatives and we look forward to
working with Laidlaw to help define an optimal course of
action."
Laidlaw was a financial advisor to USA Bank when it was in
organization and helped to raise $20.5 million in the second round
of the Bank's initial stock offering in 2006.
About USA Bank
USA Bank began operations in 2005 as a community bank dedicated
to serving the financial needs of individuals, families and
businesses in Westchester and Fairfield Counties. USA Bank is
staffed by experienced, community-focused bankers who are dedicated
to offering the highest level of customer service and the latest
technology to meet and exceed the expectations of their clients.
The Bank's web address is www.usa-bankers.com.
About Laidlaw & Company (UK) Ltd.
Laidlaw & Company (www.laidlawltd.com) is a full-service
investment banking and securities brokerage firm with offices in
New York, London and select additional locations. Its brokerage arm
provides wealth management advice for domestic and international
high-net-worth and institutional clients. Its investment banking
arm provides capital raising, M&A, restructuring and other
financial advisory services for public and private small cap and
middle market clients across a broad cross-section of industry
sectors. Laidlaw is authorized by the FSA in the United Kingdom and
regulated by FINRA in the United States.
"Safe Harbor" Statement under Private Securities Litigation
Reform Act of 1995
Some of the statements contained in this press release may
include forward-looking statements which reflect our current views
with respect to future events and financial performance. Statements
which include the words "expect," "intend," "plan," "believe,"
"project," "anticipate" and similar statements of future or
forward-looking nature identify forward-looking statements for
purposes of the federal securities laws or otherwise. All
forward-looking statements address matters that involve risks and
uncertainties. Accordingly, there are or will be important factors
that could cause actual results to differ materially from those
indicated in these statements or that could adversely affect the
holders of our common stock.
These factors include, but are not limited to, those outlined in
the Bank's Annual Report on Form 10-K for the year ended December
31, 2008, which was filed with the Federal Deposit Insurance
Corporation and is publicly available from the FDIC's Accounting
and Securities Disclosure Section, 550 17th Street, N.W.,
Washington, D.C. 20429 and on the Bank's website at
www.usa-bankers.com.
For more information call: Ronald J. Gentile President & CEO
914-417-3205
USA Bank NY (CE) (USOTC:USBK)
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USA Bank NY (CE) (USOTC:USBK)
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