Universal Savingsimage

Universal Savings Banc Holdings, Inc.

Raised $4,999,475

12% Series C Preferred Stock

  • Universal Savings Banc Holdings, Inc. ("USB Holdings" or the "Company") a Milwaukee, Wisconsin-based financial services company, issued preferred shares to increase its balance sheet capacity.

  • The core business of its wholly owned subsidiay, Universal Savings Bank, F.A. ("USB" or the "Bank") was residential mortgage banking. However, the Bank was introducing consumer-based loan products, had commenced a correspondent home mortgage program, and acquired a wholesale mortgage loan operation.

  • USB also had entered into preliminary agreements with two international banks for the sales of credit card receivables to be sold on an ongoing basis. Because of its asset growth in late calendar 2004, the Company required additional capital before year end.

Universal Savings Banc Holdings, Inc. ("USB Holdings" or the "Company"), issued $4,999,475 to increase its balance sheet capacity within the capital requirements of U.S. banking regulations.

Securities sold by affiliate, Carolina Financial Securities, LLC.