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Phila Business Journal - Liberty Bell Bank Sells Stock, Eyes Potential Deals

Philadelphia Business Journal - by Jeff Blumenthal , Staff Writer

Date: Tuesday, November 30, 2010, 9:56am EST


Liberty Bell Bank said Tuesday that it was conducting a public stock offering in

hopes of raising $4.6 million.

The Marlton, N.J.-based bank is offering up to 1.4 million shares of common

stock at $3.30 per share. The bank said it intends to use the net proceeds to
support future growth and lending. The bank said it is “well capitalized” by all
regulatory capital measures.

Liberty Bell said it may also use a portion of the proceeds to fund all or a

portion of the costs involved in the acquisition of another financial institution
or a financial services business such as a wealth management firm, an
insurance agency, an equipment leasing business or a residential mortgage
loan origination business. While the bank stressed it had no agreements in
place, it is in discussions with one business and believes it could potentially
increase its non-interest income and obtain cross referral opportunities
through owning financial services businesses.

Liberty Bell Bank also said it earned $101,348 in the third quarter, a swing

from the same quarter last year’s loss of $277,876. Non-accrual loans made
up 6.76 percent of the loan portfolio, up from 4.58 percent at Dec. 31, 2009.
...

Liberty Bell Bank said Tuesday that it was conducting a public stock offering in

hopes of raising $4.6 million.

The Marlton, N.J.-based bank is offering up to 1.4 million shares of common

stock at $3.30 per share. The bank said it intends to use the net proceeds to
support future growth and lending. The bank said it is “well capitalized” by all
regulatory capital measures.

Liberty Bell said it may also use a portion of the proceeds to fund all or a

portion of the costs involved in the acquisition of another financial institution
or a financial services business such as a wealth management firm, an
insurance agency, an equipment leasing business or a residential mortgage
loan origination business. While the bank stressed it had no agreements in
place, it is in discussions with one business and believes it could potentially
increase its non-interest income and obtain cross referral opportunities
through owning financial services businesses.

Liberty Bell Bank also said it earned $101,348 in the third quarter, a swing

from the same quarter last year’s loss of $277,876. Non-accrual loans made
up 6.76 percent of the loan portfolio, up from 4.58 percent at Dec. 31, 2009.
In addition to Marlton, Liberty Bell (OTCBB:LBBB) also had offices in Cherry
Hill, Moorestown and Mount Laurel. It was founded in 2003 and has $179
million in assets.