First Bancorp (FBNC) in Troy, N.C. and Community Financial Shares in Glen Ellyn, Ill. have completed capital raises.

The $3.3 billion-asset parent of First Bank said Friday it raised $33.8 million by selling common and preferred stock to institutional investors and plans to use the proceeds to bolster its capital reserves before it writes off troubled loans.

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.