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Northwest Bancorp. in Spokane has raised $20 million from a private placement of common stock. Northwest plans to use some of the proceeds to complete its acquisition of Fairfield Financial Holdings, which was announced in late June.
August 31 -
Blue Valley Ban Corp. in Overland Park, Kan., has named an executive from a large investor in the company to its board.
August 20 -
Wells Financial in Minnesota has completed its purchase of St. James Federal Savings & Loan Association, in a deal closely watched by members of the mutual bank community.
July 20
Bridgewater Bancshares in Bloomington, Minn., has raised $15 million from the private-equity firm Castle Creek Capital.
The $785 million-asset Bridgewater plans to use the proceeds for strategic growth purposes, including possible acquisitions and organic growth, the company said Tuesday in a
“This significant influx of capital provides us with new opportunities to escalate this strategy and continue expanding our footprint in the Twin Cities,” Jerry Baack, Bridgewater's chairman and chief executive, said in the release.
Castle Creek, in Rancho Santa Fe, Calif., is an active investor in community banks. Its other investments include
Bridgewater, which was founded in 2005, operates four branches in the Minneapolis-St. Paul, Minn., area.
D.A. Davidson was financial adviser to Bridgewater on the investment.
