Lawrence Savings Bank LSBX Message Board

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Non-Tech : Lawrence Savings Bank LSBX

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To: Judy Muldawer who wrote (17)	1/23/1997 9:52:00 PM
From: Phil Rogers	of 98

This was posted at the LSBX folder at Motley Fool on AOL. I thought it might interest those involved in LSBX. Let me shed a little light on the Pill. It was enacted to protect the current management who managed to thwart the attempts of some young buckeroo who tempted to gain a seat on the board about 1 year ago. We (shareholders) were bombarded with letters from the guy telling us all about banking and how crappy our little bank was doing in relation to other area banks. The bank countered the proxy fight letter for letter and ultimately won--- at at cost of over $300k. ( Our money ). The pill is probably a good response to further protect our interests and make sure we are duly rewarded should a unfriendly takeover manifest itself. LSBX had good movement today closing at the previous intraday high. I'm very pleased with this, considering yesterday's lethargy. Also, it's main move up appeared to be in the late part of the day, while the rest of the markets were falling around us. I would have liked to see a confirming intraday high to 10, but beggars can't be choosers. Phil

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