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Lenox Savings Bank completes initial stock offering.

ST. BERNARD, Ohio--(BUSINESS WIRE)--July 18, 1996--Virginia M. Porowski, President and Chief Executive Officer of Lenox Savings Bank (the "Bank"), announced today that Lenox Bancorp, Inc., the proposed holding company for Lenox Savings Bank, completed its initial stock offering after the close of business on July 17 in connection with Lenox Savings Bank's conversion from the mutual to stock form. A total of 425,677 shares were sold at the price of $10.00 per share.

On June 26, 1996, Lenox Savings Bank's Plan of Conversion was approved by Lenox Savings Bank's voting members at a Special Meeting of Members.

Ms. Porowski said that the officers and boards of directors of Lenox Bancorp, Inc. and Lenox Savings Bank wished to express their thanks for the response to the stock offering and that Lenox Savings Bank looks forward to serving the needs of its customers and new stockholders as a community-based stock institution. The stock is anticipated to commence trading on July 18, 1996 through the National Daily Quotation Service "Pink Sheets." Trident Securities, Inc. of Raleigh, N.C. managed the stock offering.

CONTACT: Lenox Savings Bank

Virginia M. Porowski, 513/242-6900
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Publication:Business Wire
Date:Jul 18, 1996
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