BRISTOL, Va. -- Charter Federal Savings Bank said it plans to raise at least $43.5 in capital through a rights offering.

The $692 million-asset thrift would grant 5.65 rights per share of outstanding stock. Shareholders would the be allowed to buy new stock at about $2 a share.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.