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Pa.-based United Bancshares completes preferred stock offering to Bryn Mawr Bank

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Pa.-based United Bancshares completes preferred stock offering to Bryn Mawr Bank

Philadelphia-based United Bancshares Inc. on Sept. 29 completed its preferred stock offering to Bryn Mawr, Pa.-based Bryn Mawr Bank Corp.

The company issued 500 shares of previously authorized 7.00% noncumulative perpetual preferred stock series B for an aggregate price of $250,000.

In August, Bryn Mawr Bank sought the Pennsylvania Department of Banking and Securities' approval to acquire more than 10% of United Bancshares' preferred stock.