Community Bank Shares of Indiana in New Albany has registered to sell stock on behalf of several investors.
The $1.7 billion-asset company disclosed in a regulatory filing Monday that it will sell about 1.1 million shares at $27.50 a share, raising nearly $31 million for certain investors.
Funds tied to EJF Financial will sell at least 140,000 shares, while a fund associated with Bridge Equities will sell more than 134,000 shares. Funds tied to Bay Pond Partners plan to sell more than 180,000 shares. All of those entities will be cashing out of the company with the offering.
Community Bank Shares conduced a private offering to help fund its purchase of Kentucky's First Financial Service in a deal that closed earlier this year.