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FIRST LIBERTY FINANCIAL CORP. EFFECTS PUBLIC OFFERING OF CONVERTIBLE PREFERRED STOCK

 MACON, Ga., Feb. 9 /PRNewswire/ -- First Liberty Financial Corp. (NASDAQ: FLFC) today announced that it had offered for sale 400,000 shares of its Series A 7.75 percent Cumulative Convertible Preferred Stock at a price of $25.00 per share in a public offering managed by The Robinson-Humphrey Company, Inc. and Interstate/Johnson Lane Corporation.
 It is contemplated that the shares will be delivered on or about Feb. 16. The company also has granted the underwriters an option to purchase up to 60,000 additional shares to cover over-allotments. According to First Liberty President and Chief Executive Officer Robert F. Hatcher, the proceeds from the sale of the preferred stock will be used to provide additional capital to the company's subsidiary, Liberty Savings Bank, F.S.B., and for other general corporate purposes.
 First Liberty Financial Corp. is the holding company for Liberty Savings Bank, which serves Macon, Savannah, Valdosta and other Georgia cities through its home office in Macon and 19 full-service branch offices. Through its subsidiary Liberty Mortgage Corporation, Liberty Savings Bank operates a mortgage banking business in all of its market areas and through correspondent relationships in several southeastern states.
 -0- 2/9/93
 /CONTACT: David L. Hall of First Liberty Financial Corp., 404-936-3350/
 (FLFC)


CO: First Liberty Financial Corp. ST: Georgia IN: FIN SU: OFR

BR-RA -- AT015 -- 4832 02/09/93 16:37 EST
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Publication:PR Newswire
Date:Feb 9, 1993
Words:229
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