Ohio Legacy Bank Completes Capital Infusion
19 Febrero 2010 - 11:00PM
Marketwired
Wilbur Roat, the Chairman of the Boards of Directors of Ohio Legacy
Corp, an Ohio corporation and registered bank holding company
("OLC"), and Ohio Legacy Bank (NASDAQ: OLCB), a national bank and
the wholly owned subsidiary of OLC, announced that on Friday,
February 19, the previously announced $17.5 million capital
infusion in OLC and Ohio Legacy Bank closed, effective as of 11:59
p.m on that day. Excel Bancorp, LLC was lead investor in the
capital infusion, and was joined by other local investors. Excel
Bancorp, led by Bruce A. Cassidy, Sr., its managing member, has
obtained majority ownership of OLC. The application of Excel
Bancorp to register as a bank holding company was approved on
February 12, 2010, by the Federal Reserve Bank of Cleveland.
"The $17.5 million capital infusion now assures the continuation
of Ohio Legacy Bank's commitment to the personal banking needs of
Stark and Wayne counties and other communities in Northeastern
Ohio. We look forward to getting back to business," said Mr.
Cassidy.
Rick L. Hull, President and Chief Executive Officer of OLC and
Ohio Legacy Bank, will lead a management team consisting of
seasoned banking professionals, including Denise Penz, Chief
Operating Officer and Executive Vice President, Jane Marsh, Chief
Financial Officer, and Lucy Blumer, Chief Credit Officer. Mr. Hull
has worked in the commercial banking industry for the past 27
years, both in an executive management capacity and as General
Counsel for Citizens Banking Company. Most recently, Mr. Hull
worked for Huntington National Bank as President of its Akron
Canton Region. Ms. Penz has more than 12 years of experience in the
trust services industry, serving from 2000 to 2008 as the Senior
Vice President, Manager of Trust and Investment Services for the
Ohio Valley Region of Huntington (formerly Belmont National Bank
and Sky Bank). Ms. Marsh, a certified public accountant, has over
26 years of experience in accounting and bank services. Ms. Marsh
previously served as CFO for Belmont National Bank and has
extensive experience in corporate strategic direction, finance and
accounting. Ms. Blumer has more than 20 years experience in the
banking industry, both in the field of asset based auditing and in
the credit administration function. She most recently served as the
Regional Credit Officer of the Akron Canton Region of
Huntington.
Mr. Hull stated, "Our management team has a long record of
success in tailoring many banking products and services to the
needs of individuals and businesses, and providing levels of
service which exceed expectations. We are looking forward to
imaginative and creative solutions to our customer's banking needs,
and to providing trust, investment, and private banking services in
the near future. We're excited about our company. The capital
infusion gives our employees the opportunity to better serve their
clients and for us to expand our client base."
While expanding services, the bank will continue to emphasize
client relationships. "Our goal is to provide personal, concierge
service across a full range of financial products," Penz commented.
"Our customers will receive the personal attention they deserve
from a staff they know and trust."
About Ohio Legacy Corp. and Ohio Legacy
Bank Ohio Legacy Corp is a bank holding company headquartered
in Wooster, Ohio. Its subsidiary, Ohio Legacy Bank, NA, provides
financial services to small businesses and consumers through four
full-service banking locations in Canton, North Canton and Wooster,
Ohio.
Contact: Rick L. Hull President and Chief Executive Officer Ohio
Legacy Bank Email: Email Contact Phone: (330) 853-7590
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