First Security in Owensboro, Ky., has raised $30 million through a private placement.

The $500 million-asset company said in a press release Friday that Castle Creek Capital Partners was the lead investor and that it would use the funds for organic growth and "acquisitive opportunities."

"The additional capital will allow us to execute on our long-term strategic growth plan and take advantage of expansion and growth opportunities within our target markets," M. Lynn Cooper, First Security's president and chief executive, said in the release. "The offering participants are some of the best bank investors available and will provide First Security with a team of strategic partners focused on increasing shareholder value."

FIG Partners was the placement agent. Stites & Harbison served as legal counsel to First Security.

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