Silver State Bancorp Files Registration Statement for Proposed Initial Public Offering

Silver State Bancorp Files Registration Statement for Proposed Initial Public Offering

Silver State Bancorp announced today that it has filed a registration statement with the Securities and Exchange Commission relating to the proposed initial public offering of its common stock. All shares of the common stock to be sold in the offering will be offered by Silver State Bancorp. The company is seeking to raise net proceeds of approximately $80,000,000.

Sandler O’Neill & Partners, L.P. will act as lead underwriter for the offering, and Howe Barnes Hoefer & Arnett, Inc. will act as co-underwriter for the offering. The offering will be made only by means of a prospectus. When available, a copy of the preliminary prospectus relating to the offering may be obtained from: Sandler O’Neill & Partners, L.P., 919 Third Avenue, 6th Floor, New York, NY 10022.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but 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 or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Silver State Bancorp

Silver State Bancorp operates 10 full-service branches in Southern Nevada through Silver State Bank, as well as two branches in the Phoenix, Arizona area through its wholly-owned subsidiary, Choice Bank. Silver State Bancorp also operates loan production offices in Nevada, Utah, Colorado, Washington, Oregon, California and Florida. Silver State Bancorp is headquartered in Henderson, NV.