Finance & Business World

Liberty Bancorp Inc. announced the results of a tender offer for common stock held by investors with 99 or fewer shares, part of its effort to get below the 300 shareholder limit, which would enable it to go private.

The Liberty-based company (Nasdaq: LBCP), the holding company for BankLiberty, said in a Tuesday release that it had acquired 4,631 shares for $15 a share, for a total of $69,465. The company also offered a $50 bonus for all trades executed before the deadline, but it did not say how many shareholders were involved in the trades.

The company didn’t say whether it reached the goal of reducing the number of shareholders to fewer than 300.

Liberty Bancorp CEO Brent Giles couldn’t immediately be reached for comment Wednesday cash advance loans.

Giles had said in October that the bank’s board determined that Securities and Exchange Commission regulations and legislation, such as the Sarbanes-Oxley Act of 2002, which the bank will be subject to starting in 2010, were getting too burdensome on the company’s financial and personnel resources.

“We hope that by reducing the number of shareholders and, if eligible, deregistering with the SEC, the company will substantially reduce the costs associated with complying with these regulations and reporting requirements,” Giles said in an earlier release.

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