Capital Bancorp in Rockville, Md., has raised $5 million in senior debt financing.
The $547 million-asset company obtained the financing only through local investors and without institutional investors, it said in a Tuesday press release. The offering was oversubscribed in two days. Capital did not identify how it plans to use the proceeds.
"The level of interest and amount of funds available to us validates our growth strategy and financial performance," Ed Barry, chief executive, said in the release.
In July 2013, Capital raised $3.4 million from 47 shareholders, each of whom invested a minimum of $17,000.
Capital has branches in Washington, D.C., Maryland and North Carolina.