Lyons Bancorp Inc., the parent company of Lyons National Bank, recently announced its completion of a $5 million private placement offering of 5 percent non-cumulative, convertible, preferred stock to accredited investors.

“The capital raised will support our organic growth as we continue to increase our market share in all of the communities we presently serve,” said Robert Schick, board chairman and CEO. “We expect to receive regulatory approval soon to open our 14th branch office and are exploring the acquisition of a financial, non-bank business. This private stock offering has positioned LNB to make the most of the improved business and economic outlook.”

LNB is a community bank with offices in Monroe, Onondaga, Ontario, Seneca, Wayne and Yates counties.