An investment fund controlled by Guaranty Bancorp chairman John Eggemeyer is seeking Federal Reserve Board approval to roughly quadruple its stake in the Denver banking company.

Guaranty announced Monday that Castle Creek Capital Partners III LP had applied to the Fed for authority to own up to 19.9% of the $2 billion-asset company. It also said that Castle Creek, a Rancho Santa Fe, Calif., investment firm, is considering buying more shares, depending on market conditions.

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