Western Liberty Bancorp Provides Market Update

LAS VEGAS, April 21 /PRNewswire-FirstCall/ -- Western Liberty Bancorp (OTC Bulletin Board: WLBC) ("WLBC" or the "Company") today announced that it continues to seek significant value creation opportunities for WLBC shareholders as an opportunistic source of capital to Western Regional community banks.

The Company continues to pursue completion of its acquisition of Service1st Bank of Nevada ("Service1st"). Specifically, the Company indicated:

• It is committed to closing the previously announced transaction with Service1st.
• It is working to comply with all regulatory requests from the Federal Reserve and the FDIC.
• It plans to reschedule the Company's shareholder meeting in due course.
• It will seek relisting on the NYSE or NASDAQ once a business combination has been completed.

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of the federal securities laws. These forward-looking statements inherently involve risks and uncertainties that are detailed in the Company's prospectus and other filings with the Securities and Exchange Commission and, therefore, actual results could differ materially from those projected in the forward-looking statements. Forward looking statements include statements regarding the consummation of the acquisition of Service1st Bank, Western Liberty's plans for the bank post-closing and the effect of the acquisition on Service1st and the Nevada banking system as a whole. The Company assumes no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

About Western Liberty Bancorp

Western Liberty Bancorp intends to operate as a "new" Nevada financial institution bank holding company upon receiving regulatory approvals and consummating acquisitions in the banking sector. The company currently has an agreement to purchase Service1st Bank of Nevada. The consummation of the acquisitions are subject to such conditions as are customary for an acquisition of its type, including without limitation, obtaining all applicable governmental and other consents and approvals. The company expects to conduct operations through its wholly-owned banking subsidiaries post-acquisition. Western Liberty expects to provide a full range of traditional community banking services focusing on core commercial business in the form of commercial real estate lending, small business lending, treasury management services, trade finance, consumer loans and a broad range of commercial and consumer depository products. In addition, Western Liberty Bancorp intends to use cash on hand to facilitate additional acquisitions and to fund prudent loan portfolio and deposit base growth.

SOURCE Western Liberty Bancorp