Paul Hastings Advises Liberty Banshares Iowa in Agreement to Acquire Liberty Banshares Florida

February 05, 2010

Washington, D.C. (February 5, 2010) - Paul, Hastings, Janofsky & Walker LLP, a leading global law firm, announced today that the firm advised Liberty Banshares Iowa, an Iowa-based savings and loan holding company, and its bank subsidiary Liberty Bank Des Moines, Iowa, in connection with its definitive agreement to acquire Liberty Banshares, a Florida-based savings and loan holding company, and its application to the U.S. Department of Treasurys Office of Thrift Supervision (OTS), along with applicants W.A. Krause Revocable Trust and Liberty FSB, Des Moines, Iowa to make the acquisition. The transaction was approved by the OTS on January 29, 2010, and closed on February 1, 2010.

Under the terms of the agreement, Liberty Banshares Iowa acquired 100% of the stock of Liberty Banshares Florida.

Washington, D.C. partner V. Gerard Comizio led the Paul Hastings team, which included of counsel Lawrence Kaplan, and associates Jared Brandman, Erica Berg Brennan, Helen Lee, and Azba Habib.

The Paul Hastings Banking and Financial Institutions Practice is nationally recognized for the breadth and depth of its bank regulatory and transaction capabilities. Paul Hastings team of bank M&A lawyers regularly counsel banks and other financial institutions on the full range of bank regulatory, corporate, securities, executive compensation, and compliance matters related to mergers, acquisitions, transfers of assets, and similar transactions.

Paul, Hastings, Janofsky & Walker is a leading global law firm with offices in Asia, Europe, and the United States. We provide innovative legal solutions to financial institutions and Fortune 500 companies. Please visit www.paulhastings.com for more information.