SEVIERVILLE, Tenn., Aug. 1, 2005 (PRIMEZONE) -- Mountain National Bancshares, Inc. (OTCBB:MNBT) today announced that its board of directors has set the close of business on August 12, 2005 as the record date for determining whether a person was a shareholder of the company for purposes of being given priority to participate in the company's proposed offering of up to 416,500 shares of common stock being offered pursuant to a registration statement filed with the Securities and Exchange Commission on July 11, 2005.
A Registration Statement relating to these securities has been filed with the Securities and Exchange Commission and has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state.
A copy of the prospectus related to this offering will be available by writing to the company c/o Bev Brosch, Corporate Secretary, 300 East Main Street, Sevierville, Tennessee 37862. An electronic copy of the prospectus will also be available on the Securities and Exchange Commission's website at www.sec.gov.
The foregoing statements regarding Mountain National Bancshares, Inc.'s intentions with respect to the contemplated filing of a registration statement covering the sale of its common stock are forward-looking statements under the Private Securities Litigation Reform Act of 1995, and actual results could vary. Mountain National's ability to file the registration statement and complete the contemplated offering successfully is subject to various risks, many of which are outside of its control, including prevailing conditions in the public capital markets; the effects of future economic or business conditions; governmental monetary and fiscal policies, as well as legislative and regulatory changes, including changes in banking, securities and tax laws and regulations; the risks of changes in interest rates on the levels, composition and costs of deposits, loan demand, and the values of loan collateral, securities, and interest sensitive assets and liabilities; credit risks of borrowers; the effects of competition from a wide variety of local, regional, national and other providers of financial, investment and insurance services; the failure of assumptions underlying the establishment of reserves for possible loan losses and other estimates; the risks of mergers, acquisitions and divestitures, including, without limitation, the related time and costs of implementing such transactions, integrating operations as part of these transactions and the possible failure to achieve expected gains, revenue growth and/or expense savings from such transactions; changes in accounting policies, rules and practices; changes in technology or products that may be more difficult, or costly, or less effective, than anticipated and other risks and uncertainties as detailed from time to time in the reports filed by Mountain National with the Securities and Exchange Commission.
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