July 30, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — Habersham Bancorp (OTCBB: HABC), A Georgia-based bank holding company, said that it is launching an intrastate public offering of units to raise a minimum of $5 million and a maximum of $25 million.

Each unit will be offered for $1.30 and consist of one share of Habersham’s common stock and one warrant to purchase an additional share of the firm’s common stock at the exercise price of $1.95 for a period of five years from the date of issuance of the warrant.

The company said that, if the entire offering is placed, the expected net proceeds to Habersham after fees and expenses are estimated to be $22.7 million.

Habersham Bancorp operates as the bank holding company for Habersham Bank, which provides commercial banking services to businesses and individuals in Habersham, White, Cherokee, Warren, Stephens, Forsyth, and Hall Counties in Georgia. The company operates one main office and nine branch offices. Habersham Bancorp was founded in 1904 and is based in Cornelia, Georgia.

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