Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : USAB - USABancShares.com -- Ignore unavailable to you. Want to Upgrade?

To: Tom Borst who wrote (2085)	10/1/1999 9:18:00 AM
From: VeloSpeed	Read Replies (1) \| Respond to of 2419

October 01, 1999 09:01 USABancShares.com, Inc. Announces Completion of Public Offering of 1,400,000 Shares of Common Stock PHILADELPHIA, Pa.--(BUSINESS WIRE)--Oct. 1, 1999-- USABancShares.com, Inc. (NASDAQ - "USAB") announces today the sale of 1,400,000 shares of Common Stock at an offering price of $6.75 per share through a firm commitment underwritten offering managed by Sandler O'Neill & Partners, L.P. USABancShares.com, Inc. has granted the underwriters an option exercisable within 30 days to purchase up to an additional 210,000 shares to cover over-allotments. The offering is scheduled to close on Tuesday October 5, 1999. USABancShares.com's common stock is currently trading on the Nasdaq National Market under the symbol "USAB". The proceeds from the offering will be used by USABancShares.com to contribute capital to vBank. vBank will use a portion of those proceeds to finance their national marketing campaign and to enter into strategic marketing agreements in connection with the expansion of USABancShares.com's Internet banking and brokerage operations. A Prospectus describing this offering is available from Sandler O'Neill & Partners, L.P. Two World Trade Center, 104th Floor, New York, NY 10048, Attention: Syndicate Department. At June 30, 1999, USABancShares.com had assets of $230.0 million, liabilities of $215.9 million, including deposits of $169.9 million, and stockholders' equity of $14.0 million. CONTACT: USABancShares.com, Inc., Philadelphia Kenneth L. Tepper, President & CEO 215/569-4200 klt@usabancshares.com or Brian M. Hartline, Chief Financial Officer 215/569-4200 bmh@usabancshares.com