Bank of Princeton in Princeton, N.J., is looking to raise capital six months after a plan to sell itself fell through when the proposed buyer hit a regulatory snag.

The $1.1 billion-asset bank said in a press release Monday that it will raise $40 million and list its shares on the Nasdaq. The bank could raise another $6 million if there is enough demand

Net proceeds would be used for organic growth and acquisitions, among other things.

The bank agreed in May 2016 to sell itself to Investors Bancorp in Short Hills, N.J., for $154 million in cash and stock. The deal fell through several months after Investors entered into an informal agreement with regulators that required it to improve Secrecy Act and anti-money-laundering compliance.

A decision to sell stock and move a new exchange would be unusual for a bank looking to find a new buyer.

Then again, Bank of Princeton has a history as an acquirer. It bought MoreBank, a Philadelphia institution that catered to Korean-American small businesses, for $5.5 million in late 2010. Bank of Princeton kept the MoreBank brand after the deal closed.

Bank of Princeton has ten branches in central New Jersey, along with three MoreBank offices.

The bank’s earnings for the first half of 2017 rose 6% from a year earlier, to $6.1 million. Total loans have increased 3% since the end of last year, to $879 million at June 30.

Sandler O'Neill is the offering’s sole book-running manager. Boenning & Scattergood and FBR Capital Markets are acting as co-managers.

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