BALA CYNWYD, Pa., Jan. 15, 2009 (GLOBE NEWSWIRE) -- Law office of Brodsky & Smith, LLC announces that it is investigating the legal ramifications of the proposed acquisition of Abigail Adams National Bancorp, Inc. ("Abigail Adams" or the "Company") (Nasdaq:AANB) by Premier Financial Bancorp, Inc. ("Premier Financial") (Nasdaq:PFBI). Premier Financial has offered Abigail Adams shareholders 0.4461 shares of Premier Financial common stock for each share of their Abigail Adams' stock. Based on Premier Financial's closing price on January 12, 2009, the offer would amount to $2.97 for every share of Abigail Adams' stock. The deal may be undervalued as Abigail Adams' stock traded as high as $4.00 a share as recently as December 2008.
If you are an Abigail Adams shareholder and wish to discuss the legal ramifications of the proposed acquisition by Premier Financial, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at clients@brodsky-smith.com, or by calling toll free 877-LEGAL-90.