Community Financial (CFIS) in Glen Ellyn, Ill., has raised $3.9 million in a private placement.

The $356.6 million-asset company issued 2.8 million shares of common stock to investors at a purchase price of $1.00 per share. It also issued an additional 350,000 shares of common stock at $1 per share and 7,334 shares of preferred stock at $100 per share to existing stockholders.

Community Financial announced plans for the offering, along with a $24 million investment from 63 investors, in November 2012.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

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