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.