0001162044-14-000184.txt : 20140213 0001162044-14-000184.hdr.sgml : 20140213 20140213095108 ACCESSION NUMBER: 0001162044-14-000184 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20140213 DATE AS OF CHANGE: 20140213 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: LNB BANCORP INC CENTRAL INDEX KEY: 0000737210 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 341406303 STATE OF INCORPORATION: OH FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: 1934 Act SEC FILE NUMBER: 005-58535 FILM NUMBER: 14603424 BUSINESS ADDRESS: STREET 1: 457 BROADWAY CITY: LORAIN STATE: OH ZIP: 44052-1769 BUSINESS PHONE: 440-244-6000 MAIL ADDRESS: STREET 1: 457 BROADWAY CITY: LORAIN STATE: OH ZIP: 44052-1769 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Ancora Advisors, LLC CENTRAL INDEX KEY: 0001446114 IRS NUMBER: 331033773 STATE OF INCORPORATION: OH FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: 2000 AUBURN DRIVE, SUITE 300 CITY: CLEVELAND STATE: X1 ZIP: 44122 BUSINESS PHONE: 2168254000 MAIL ADDRESS: STREET 1: 2000 AUBURN DRIVE, SUITE 300 CITY: CLEVELAND STATE: X1 ZIP: 44122 SC 13D 1 ancorasec13d201402.htm --------------------------


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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934



LNB Bancorp Inc.

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(Name of Issuer)


COMMON SHARES

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(Title of Class of Securities)


502100100

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(CUSIP Number)


Frederick DiSanto

C/O Ancora Advisors, LLC

ONE CHAGRIN HIGHLANDS

2000 AUBURN DRIVE, SUITE 300

CLEVELAND, OHIO 44122

(216) 825-4000

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(Name, Address and Telephone Number of Person Authorized to

Receive Notice and Communications)


February 3, 2014

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(Date of Event which Requires Filing of this Statement)


If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(b)(3) or (4), check the following box |__|.


Check the following box if a fee is being paid with the statement  |___|.



SCHEDULE 13D

--------------------------------------------------------------------------------CUSIP NO. 502100100

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1

NAME OF REPORTING PERSON

I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)

ANCORA ADVISORS, LLC  33-1033773

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2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_| (b) |_|

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3

SEC USE ONLY

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4

SOURCE OF FUNDS*

00

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5

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO

ITEMS 2(d) or 2(e) |_|

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6

CITIZENSHIP OR PLACE OF ORGANIZATION

State of Nevada, U.S.A.

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7

SOLE VOTING POWER

NUMBER OF     

SHARES

552,186

BENEFICIALLY

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OWNED BY    

8

SHARED VOTING POWER

EACH  

0

REPORTING

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PERSON

9

SOLE DISPOSITIVE POWER

WITH

552,186

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10

SHARED DISPOSITIVE POWER

0

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11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

552,186

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12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*

|_|          

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13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

5.71%

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14

TYPE OF REPORTING PERSON*

IA

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SCHEDULE 13D

--------------------------------------------------------------------------------CUSIP NO. 502100100

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1

NAME OF REPORTING PERSON

Frederick DiSanto

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2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_| (b) |_|

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3

SEC USE ONLY

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4

SOURCE OF FUNDS*

OO

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5

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO

ITEMS 2(d) or 2(e) |_|

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6

CITIZENSHIP OR PLACE OF ORGANIZATION

United States of America

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7

SOLE VOTING POWER

NUMBER OF     

SHARES

80,024

BENEFICIALLY

-----------------------------------------------------

OWNED BY    

8

SHARED VOTING POWER

EACH  

0

REPORTING

-----------------------------------------------------

PERSON

9

SOLE DISPOSITIVE POWER

WITH

80,024

-----------------------------------------------------

10

SHARED DISPOSITIVE POWER

0

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11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

80,024

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12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*

|_|          

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13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

.83%

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14

TYPE OF REPORTING PERSON*

IN

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The following constitutes to the Schedule 13D filed by the undersigned



Item 1.

Security and Issuer


This statement relates to the shares of Common Stock of LNB Bancorp Inc.  The address of the issuer is 457 Broadway, Lorain, OH 44052-1769.


Item 2.

Identity and Background


This statement is filed on behalf of Ancora Advisors LLC.  Ancora Advisors LLC is registered as an investment advisor with the SEC under the Investment Advisors Act, as amended. Ancora Advisors LLC is the investment advisor to the Ancora Trust, which includes the Ancora Income Fund, Ancora Equity Fund, Ancora Special Opportunity Fund, Ancora/Thelen Small-Mid Cap Fund, and Ancora MicroCap Fund (Ancora Family of Mutual Funds), which are registered with the SEC as investment companies under the Investment Company Act, as amended.


Ancora Advisors LLC has the power to dispose of the shares owned by the investment clients for which it acts as advisor, including Merlin Partners, the AAMAF LP, Birchwald Partners, LP and the Ancora Greater China Fund LP for which it is also the General Partner, and the Ancora Family of Mutual Funds. Ancora Advisors disclaims beneficial ownership of such shares, except to the extent of its pecuniary interest therein.


During the last five years the Reporting Person has not been convicted in a criminal proceeding, nor been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction, as a result of which he was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.



Item 3.

Source and Amount of Funds or Other Consideration



Ancora Advisors owns no Shares directly but Ancora Advisors may be deemed to own (within the meaning of Rule 13(d)(3) of the Securities Exchange Act of 1934) Shares purchased for or transferred to the accounts of investment management clients.  Ancora Advisors disclaims beneficial ownership of such shares, except to the extent of its pecuniary interest therein.


Merlin Partners, AAMAF LP, Birchwald Partners LP, Ancora Greater China Fund LP, Ancora Family of Mutual Funds, Employees of Ancora Advisors LLC and Owners of Ancora Advisors LLC. have used available and uncommitted cash to purchase shares of the Issuer.


Item 4.

Purpose of Transaction


The shares of Common Stock covered by this Schedule 13D were acquired in recent months by Ancora Advisors, LLC for investment purposes in the ordinary course of business.


Item 5.

Interest in Securities of the Issuer


Set forth below, Ancora Advisors LLC, in the aggregate, are the number of Shares which may be deemed to be beneficially owned as of February 11, 2014 and the percentage of the Shares outstanding represented by such ownership (based on 9,673,523 shares outstanding as of December 27, 2013):


Name

No. Of Shares

Percent of Class

Ancora Owners/Employees (1)

85,324

0.88%

Ancora Funds & Partnerships (2)

425,376

4.40%

Ancora Advisors SMA (3)

126,810

1.31%

Total

637,510

6.59%


(1) These Shares are owned by the owners and employees of Ancora Advisors LLC. including Frederick DiSanto who serves as a Director for LNB Bancorp Inc.


(2) These Shares are owned by the Ancora Family of Mutual Funds and/or Investment Partnerships, including Merlin Partners, the AAMAF LP, Birchwald Partners LP and the Ancora Greater China Fund LP for which it is act as both the General Partner and discretionary portfolio manager.


(3) These Shares are owned by investment clients of Ancora Advisors. Ancora Advisors does not own these shares directly, but by virtue of Ancora Advisors Investment Management Agreement with the investment clients of Ancora Advisors, each may be deemed to beneficially own Shares by reason of their power to dispose of such Shares. Ancora Advisors disclaims beneficial ownership of such Shares.






Item 6.

Contracts, Arrangements, Understanding or Relationships with Respect to Securities of the Issuer.


Other than as described herein, there are no contracts, arrangements, understandings or relationships among the Reporting Persons, or between the Reporting Persons and any other person, with respect to the securities of the Issuer.




Item 7.

Material to be Filed as Exhibits


Exhibit A: “Relevant Transactions in Shares” in the past 60 days.



Date of Transaction

Buy/Sell

Amount of Securities

Price Per Share

12/23/13

Buy

497

10.1892

12/31/13

Buy

1,000

10.0870

1/2/14*

Buy

205,000

9.9859

2/3/14

Buy

8,415

10.1888

2/4/14

Buy

42,071

10.1842

2/5/14

Buy

75,164

10.1500

2/6/14

Buy

515

10.1578

2/7/14

Buy

7,554

10.2624

2/10/14

Buy

496

10.3494




*Shares purchased directly from issuer through a secondary offering.  












After reasonable inquiry, and to the best of my knowledge and belief, I certify that the information set forth in this Statement is true, complete and correct.







Dated:

February 11, 2014

ANCORA ADVISORS, LLC




By: /s/ Frederick DiSanto   

    Frederick DiSanto

       

    Chief Executive Officer