Western Liberty Bancorp (WLBC) is a bank holding company with consummation of its Service1st Bank of Nevada (Service1st). WLBC owns two subsidiaries: Service1st Bank of Nevada and Las Vegas Sunset Properties. As of December 31, 2011, the Company conducted no business activities other than acting as the holding company of Service1st and Las Vegas Sunset Properties. Service1st operates as a community bank. Service1st provides a range of deposit, lending and other banking services to locally owned business, professional firms, individuals and other customers from its headquarters and two retail banking facilities located in the greater Las Vegas area. Services provided include basic commercial and consumer depository services, commercial working capital and equipment loans, commercial real estate loans and other traditional commercial banking services. Service1st relies primarily on locally generated deposits to fund its lending activities.