Firefly Value Partners Acquires 5.7% of Alliance Bancorp, Inc. of Pennsylvania (ALLBD).
Alliance Bancorp recently completed a second-step conversion from mutual holding company form to a stock holding company along with a concurrent public stock offering.
According to Alliance’s S-1 filings, price to tangible book right now should be about 65%, perhaps slightly higher given shares are trading above the offering price of $10 per share.
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