April 2, 2010 (FinancialWire) — PVF Capital Corp. (NASDAQ: PVFC) has completed its rights offering and its offering of shares to a standby investor. Stockholders exercised subscription rights to purchase all 14,706,247 shares offered at a subscription price of $1.75 per share, and Short Vincent Partners II, L.P., an affiliate of CapitalWorks LLC, a Cleveland-based investment company, purchased 2,436,610 shares at the subscription price of $1.75 per share. In total, the company raised gross proceeds of $30.0 million before expenses.

The proceeds from the rights offering and standby purchase will be used to invest in the company's subsidiary, Park View Federal Savings Bank, to improve its regulatory capital ratios and for general corporate purposes.

The rights offering was sole managed by Stifel Nicolaus & company, Inc.. A copy of the prospectus may be obtained from Stifel Nicolaus at One South Street, Baltimore, Maryland 21202 or 224-1988.

PVF Capital Corp. is the holding company for Park View Federal Savings Bank, headquartered in Solon, Ohio, serving the Greater Cleveland area with 17 full-service branch offices.

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