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8-K - FORM 8-K - WESTERN LIBERTY BANCORP | y93397e8vk.htm |
EX-99.1 - EX-99.1 - WESTERN LIBERTY BANCORP | y93397exv99w1.htm |
EX-99.3 - EX-99.3 - WESTERN LIBERTY BANCORP | y93397exv99w3.htm |
EXHIBIT 99.2
Contact: | George Rosenbaum, Chief Financial Officer (702) 966-7400 |
NEWS RELEASE
Western Liberty Bancorp Announces Completion of Stock Repurchase Program
Las Vegas, NV November 3, 2011Western Liberty Bancorp, Inc. (NASDAQ: WLBC), the holding
company for Service1st Bank of Nevada (Service1st Bank), today announced the
completion of a 5% stock repurchase program authorized in August 2011. Under the program, Western
Liberty repurchased 754,400 shares at an average cost of $2.63 per share.
Share repurchases represent an efficient way to utilize capital, and buying back shares
contributes to the tangible book value of the remaining stock, said William Martin, Chief
Executive Officer.
About Western Liberty Bancorp
Western Liberty Bancorp is a Nevada bank holding company which conducts operations through
Service1st Bank of Nevada, its wholly owned banking subsidiary. Service1st Bank operates as a
traditional community bank and provides a full range of deposit, lending and other banking services
to locally-owned businesses, professional firms, individuals and other customers from its
headquarters and two retail banking facilities located in the greater Las Vegas area. Services
provided include: basic commercial and consumer depository services, commercial working capital and
equipment loans, commercial real estate loans, and other traditional commercial banking services.
Primarily all of the banks business is generated in the Nevada market.
www.wlbancorp.com
FORWARD LOOKING STATEMENTS
This release may contain forward-looking statements that are subject to risks and
uncertainties. Readers should not place undue reliance on forward-looking statements, which reflect
managements views only as of the date hereof. All statements, other than statements of historical
fact, regarding our financial position, business strategy and managements plans and objectives for
future operations are forward-looking statements. When used in this report, the words
anticipate, believe, estimate, expect, and intend and words or phrases of similar
meaning, as they relate to Western Liberty or management, are intended to help identify
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Although we believe that managements expectations as
reflected in forward-looking statements are reasonable, we cannot assure readers that those
expectations will prove to be correct. Forward-looking statements are subject to various risks and
uncertainties that may cause our actual results to differ materially and adversely from our
expectations as indicated in the forward-looking statements. These risks and uncertainties include
our ability to maintain or expand our market share or net interest margins, and to implement our
marketing and growth strategies. Further, actual results may be affected by our ability to compete
on price and other factors with other financial institutions; customer acceptance of new products
and services; the regulatory environment in which we operate; and general trends in the local,
regional and national banking industry and economy as those factors relate to our cost of funds and
return on assets. In addition, there are risks inherent in the banking industry relating to
collectability of loans and changes in interest rates. Many of these risks, as well as other risks
that may have a material adverse impact on our operations and business, are identified in our other
filings with the SEC. However, you should be aware that these factors are not an exhaustive list,
and you should not assume these are the only factors that may cause our actual results to differ
from our expectations.
Note Transmitted on GlobeNewswire on November 3, 2011, at 2:09 p.m. Pacific Daylight Time
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