OHIO LEGACY CORP Files SEC form 10-Q, Quarterly Report

Item 2. Management's Discussion and Analysis In the following section, management presents an analysis of Ohio Legacy Corp's financial condition as of March 31, 2009, and December 31, 2008 and results of operations for the three months ended March 31, 2009 and 2008. This discussion is provided to give shareholders a more comprehensive review of the operating results and financial condition than could be obtained from an examination of the financial statements alone. This analysis should be read in conjunction with the consolidated financial statements and related footnotes and the selected financial data elsewhere in this report. As used herein and except as the context may otherwise require, references to "the Company," "we," "us," or "our" means, collectively, Ohio Legacy Corp (Ohio Legacy) and its wholly-owned subsidiary, Ohio Legacy Bank, N.A. (Bank). 15. OHIO LEGACY CORP FORWARD-LOOKING STATEMENTS This Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A) includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which can be identified by the use of forward-looking terminology, such as: "may," "might," "could," "would," "should," "believe," "expect," "intend," "plan," "seek," "anticipate," "estimate," "project" or "continue" or the negative thereof or comparable terminology. All statements other than statements of historical fact included in this MD&A regarding our financial position, capital adequacy and liquidity are forward-looking statements. These forward-looking statements also include, but are not limited to: · anticipated changes in industry conditions created by sta...
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OHIO LEGACY CORP Files SEC form 10-K, Annual Report

Item 7. Management's Discussion and Analysis In the following section, management presents an analysis of Ohio Legacy Corp's financial condition and results of operations as of and for the years ended December 31, 2008 and 2007. This discussion is provided to give shareholders a more comprehensive review of the issues facing management than could be obtained from an examination of the financial statements alone. This analysis should be read in conjunction with the consolidated financial statements and related footnotes and the selected financial data elsewhere in this report. As used herein and except as the context may otherwise require, references to "the Company," "we," "us," or "our" means, collectively, Ohio Legacy Corp (Ohio Legacy) and its wholly-owned subsidiary, Ohio Legacy Bank, N.A. (the Bank). FORWARD-LOOKING STATEMENTS This Management's Discussion and Analysis (MD&A) includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934 (Exchange Act), as amended, which can be identified by the use of forward-looking terminology, such as may, might, could, would, believe, expect, intend, plan, seek, anticipate, estimate, project or continue or the negative thereof or comparable terminology. All statements other than statements of historical fact included in this MD&A regarding our outlook, financial position and results of operation, liquidity, capital resources and interest rate sensitivity are forward-looking statements. These forward-looking statements also include, but are not limited to: · anticipated changes in industry conditions created by state and federal legislation and regulations; · anticipated changes in general interest rates and the impact of future interest rate changes on our profitability, capital adequacy and the fair value of our financial assets and liabilities; · retention of ...
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OHIO LEGACY CORP Files SEC form 8-K, Other Events

Show all filings for OHIO LEGACY CORP | Request a Trial to NEW EDGAR Online Pro Form 8-K for OHIO LEGACY CORP 20-Feb-2009Other Events Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not intended for trading purpos...
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OHIO LEGACY CORP Files SEC form 10-Q, Quarterly Report

Item 2. Management's Discussion and Analysis FORWARD-LOOKING STATEMENTS This Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A) includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which can be identified by the use of forward-looking terminology, such as: "may," "might," "could," "would," "should," "believe," "expect," "intend," "plan," "seek," "anticipate," "estimate," "project" or "continue" or the negative thereof or comparable terminology. All statements other than statements of historical fact included in this MD&A regarding our financial position, capital adequacy and liquidity are forward-looking statements. These forward-looking statements also include, but are not limited to: · anticipated changes in industry conditions created by state and federal legislation and regulations; · anticipated changes in general interest rates and the impact of future interest rate changes on our profitability, capital adequacy and the fair value of our financial assets and liabilities; · retention of our existing customer base and our ability to attract new customers; · the development of new products and services and their success in the marketplace; · the adequacy of the allowance for loan losses; and · statements regarding our anticipated loan and deposit account growth, expense levels, liquidity and capital resources and projections of earnings. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results to be materially different from any future results expressed or implied by such forward-looking statements. Although we believe the expectations reflected...
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Ohio Legacy Corp Receives Nasdaq Delisting Notification

WOOSTER, Ohio--(BUSINESS WIRE)--Ohio Legacy Corp (NASDAQ: OLCB - News) (the “Company”) today announced that it received a notification letter from The Nasdaq Stock Market on October 1, 2009 indicating that effective September 30, 2009 the Company no longer meets the requirement under Rule 5550(a)(2) that its securities maintain a minimum bid price of $1.00 per share. Under Rule 5810(c)(3)(A), the Company has a grace period of 180 days in which to regain compliance. If at any time from the date of this notification until March 30, 2010 the bid price of the Company’s shares closes at $1.00 per share or more for a minimum of 10 consecutive business days, Nasdaq will provide the Company written confirmation of compliance with Rule 5550(a)(2). In the event the Company does not regain compliance with Rule 5550(a)(2) prior to the expiration of the grace period, it will receive written notification that its securities are subject to delisting. Alternatively, the Company may be eligible for an additional grace period if it meets the initial listing standards under Rule 5505, with the exception of bid price, for The Nasdaq Capital Market. If the Company meets the initial listing criteria, it will receive written notification that it has been granted an additional 180 calendar day compliance period.ABOUT OHIO LEGACY CORPOhio Legacy Corp is a bank holding company headquartered in W...
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OHIO LEGACY CORP Financials

Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback Quotes delayed, except where indicated otherwise.Delay times are 15 mins for NASDAQ, 20 mins for NYSE and Amex. See also delay times for other exchanges.Fundamental company data provided by Capital IQ. Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page. Quotes are updated automatically, but will be turned off after 25 minutes of inactivity. Quotes are delayed at least 15 minutes. Real-...
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OHIO LEGACY CORP Files SEC form 10-Q, Quarterly Report

Item 2. Management's Discussion and Analysis FORWARD-LOOKING STATEMENTS This Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A) includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which can be identified by the use of forward-looking terminology, such as: "may," "might," "could," "would," "should," "believe," "expect," "intend," "plan," "seek," "anticipate," "estimate," "project" or "continue" or the negative thereof or comparable terminology. All statements other than statements of historical fact included in this MD&A regarding our financial position, capital adequacy and liquidity are forward-looking statements. These forward-looking statements also include, but are not limited to: · anticipated changes in industry conditions created by state and federal legislation and regulations; · anticipated changes in general interest rates and the impact of future interest rate changes on our profitability, capital adequacy and the fair value of our financial assets and liabilities; · retention of our existing customer base and our ability to attract new customers; · the development of new products and services and their success in the marketplace; · the adequacy of the allowance for loan losses; and · statements regarding our anticipated loan and deposit account growth, expense levels, liquidity and capital resources and projections of earnings. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results to be materially different from any future results expressed or implied by such forward-looking statements. Although we believe the expectations reflected...
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Ohio Legacy Corp Signs Agreement With Excel Financial LLC

WOOSTER, Ohio--(BUSINESS WIRE)--Bruce A. Cassidy, Sr., managing partner of Excel Financial LLC, and Michael Kramer, President and CEO of Ohio Legacy Corp (NASDAQ: OLCB - News) and Ohio Legacy Bank NA, announced today that their respective organizations signed a stock purchase agreement on November 15, 2009. The Agreement provides for a $15 million capital investment by Excel in exchange for majority ownership of Ohio Legacy Corp. The capital will be used to restore Ohio Legacy Bank’s regulatory capital ratios to “well capitalized,” an important step for the bank to comply with the Consent Order issued by the Comptroller of the Currency in February of 2009. Mr. Cassidy stated that “Excel’s group of local investors and the seasoned banking professionals we have engaged have been interested in establishing a community banking presence in Northeastern Ohio for some time. We believe that our team, led by Rick Hull, along with Denise Penz, who will be establishing and leading a trust, investment, and private banking team, has the experience and expertise, when supported by sufficient capital, to help rebuild Ohio Legacy and create an excellent banking platform. With an invigorated balance sheet, and our management team in place, we look to position Legacy to take advantage of the opportunities the current banking landscape presents.”Mr. Kramer noted that, “this creates a ...
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OHIO LEGACY CORP Files SEC form 8-K, Entry into a Material Definitive Agreement, Other Events

Item 1.01 Entry into a Material Definitive Agreement. On November 15, 2009, Ohio Legacy Corp ("Legacy") entered into a Stock Purchase Agreement (the "Agreement") with Excel Financial LLC ("Excel"). Under the terms of the Agreement, which has been unanimously approved for recommendation by Legacy's board of directors , Excel will purchase 15,000,000 common shares of Legacy common shares at a price of $1.00 per share. The Agreement is subject to the approval of a majority of Legacy's common shares and the approval of applicable banking regulatory authorities, as well as other closing conditions which are set forth in the Agreement. The Agreement also contains certain termination rights of both Legacy and Excel, and further provides that, under certain circumstances, Legacy could be required to pay Excel a termination fee of $1 million. This summary does not purport to be complete. A copy of the Agreement is included as Exhibit 99.2 to this report, and this summary is qualified in its entirety by reference to the Agreement. Additional Information and Where to Find It In connection with the transactions contemplated by the Agreement, a proxy statement of Legacy and other documents will be filed with the Securities and Exchange Commission (the "SEC"). Investors and stockholders are urged to read the proxy statement and other relevant materials when they become available because they will contain important information about Legacy and Excel, the proposed Agreement and the transactions contemplated by the Agreement. In addition, Legacy files annual, quarterly and current reports, proxy statements and other information with the SEC. Investors and security holders may obtain a free copy of the proxy statement/prospectus and other relevant documents (when they become available) and any other documents filed with the SEC at its website at www.sec.gov. The documents filed by Legacy may also be obtained free of charge from Legacy by ...
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OHIO LEGACY CORP Files SEC form 8-K, Other Events

Show all filings for OHIO LEGACY CORP | Request a Trial to NEW EDGAR Online Pro Form 8-K for OHIO LEGACY CORP 2-Oct-2009Other Events Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not intended for trading purpos...
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