Community Financial Shares (CFIS) in Glen Ellyn, Ill., has raised nearly $500,000 through a rights offering.
The $355 million-asset company made the rights offering in connection with a $24 million private placement. The offering, which allowed shareholders to buy 2.4 shares at $1 each, is expected to raise $483,121 and to close on Thursday, the company said Wednesday.
Community Financial plans to use the proceeds for general working capital.
Earlier this month, the company