Elmira Savings Bank Announces $9.5 Million Private Placement
24 Aprile 2017 - 10:24PM
Elmira Savings Bank (NASDAQ:ESBK), Elmira, New York, announced
today that it has completed a private placement with institutional
and selected accredited investors of 548,000 shares of common stock
at a purchase price of $17.25 per share for gross proceeds of $9.5
million. Sandler O’Neill + Partners, L.P. acted as the sole
placement agent for the offering.
“We are pleased to announce the successful
completion of a private placement of our common stock. This
new capital will be used to support growth opportunities in markets
we serve and further enhance the value of our franchise,” said
Thomas M. Carr, President and Chief Executive
Officer.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy securities. The
securities offered and sold in the private placement have not been
registered under the Securities Act of 1933, as amended, or any
state securities laws, and may not be offered or sold in the United
States absent registration, or an applicable exemption from
registration under the Securities Act and applicable state
securities laws.
About Elmira Savings Bank
Elmira Savings Bank, with $571.0 million in
total assets, is insured by the Federal Deposit Insurance
Corporation (FDIC) and is a state-chartered bank with six offices
in Chemung County, NY; three offices and a loan center in Tompkins
County, NY; two offices in Steuben County, NY; one office in Cayuga
County, NY; one office in Schuyler County; and a loan center in
Broome County, NY.
Forward-Looking Statements
This release may include forward-looking
statements related to Elmira Savings Bank's plans, beliefs and
goals, which involve risks and uncertainties, including the timely
availability and acceptance of Bank products, the impact of
competitive products and pricing, the management of growth, and
other risks detailed from time to time in the Bank’s regulatory
reports. These risks and uncertainties could cause actual results
to differ materially from those in forward-looking statements. The
forward-looking information that may be presented in this press
release is not a guarantee of future events, and actual events may
differ materially from those made in or suggested by the
forward-looking information contained in this press release. All
such statements speak only as of the date made, and Elmira Savings
Bank undertakes no obligation to update or revise publicly any
forward-looking statements, whether as a result of new information,
future events or otherwise.
For further information contact:
Thomas M. Carr, President & CEO
Elmira Savings Bank
333 East Water Street
Elmira, New York 14901
(607) 735-8660
tcarr@elmirasavingsbank.com
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