FBC Bancshares in Conroe, Texas, has raised $13 million in a debt offering.

FBC, parent to the $328 million-asset First Bank, began selling the debt on June 30, according to a filing Friday with the Securities and Exchange Commission.

The debt was purchased by 46 investors, including 12 non-accredited investors.

The filing gave no indication of how FBC plans to use the proceeds, except to say it will not use them to fund a merger or acquisition or to pay executives.

FBC was incorporated this year. Its banking unit has seven locations in Texas.

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