MENTOR, Ohio, Dec. 14, 2007 (PRIME NEWSWIRE) -- AMG Investments, LLC announced today that it has delivered to LNB Bancorp, Inc. (Nasdaq:LNBB) a request to call a special meeting of LNB's shareholders. AMG is the bank's largest shareholder and is managed by Richard M. Osborne and Steven A. Calabrese. AMG has been disappointed with LNB's performance and believes it is imperative for management and the board to take immediate steps to maximize shareholder value. AMG solicited LNB's shareholders to call the special meeting and believes it has received the support of the holders of more than 25% of LNB's outstanding stock, enabling AMG to call the meeting. AMG is calling the meeting to vote on several proposals, including the removal and replacement of most of the current directors.
"We want to thank LNB's shareholders for their support," stated Richard Osborne. "Steve and I feel it's time for a change in LNB's board and clearly many of the bank's shareholders agree. We look forward to the meeting and the opportunity to vote on the directors."