-
A fifth of the financial institutions that participated in the Small Business Lending Fund have fully left the program and an increasing number of banks are joining them before the dividend rate jumps to 9% next year.
July 22 -
Simsbury Bank (SBTB) in Connecticut named a new retail management officer to succeed Howard Zern who is retiring at the end of this month.
April 23 -
SBT Bancorp in Simsbury, Conn., moved its shares on Wednesday to a new OTC Markets Group trading platform.
January 7
SBT Bancorp in Simsbury, Conn., plans to raise about $7.5 million through a private placement of subordinated debt and $8.6 million through a public offering of common stock.
The $419 million-asset company plans to use the proceeds to redeem $9 million of outstanding preferred stock in the federal Small Business Lending Fund program; to expand its banking subsidiary, The Simsbury Bank & Trust Co., into West Hartford, Conn.; and to gather more deposits and make more loans.
Keefe, Bruyette & Woods is the sole underwriter for SBT on the common stock offering.