EvergreenBancorp Inc. in Seattle is planning to raise $10 million in a secondary offering to open branches, buy banks, or both.
The $286 million-asset parent of Evergreen Bank said Tuesday that it had filed a registration statement with the Securities and Exchange Commission on Sept. 1 to offer 666,667 shares of its common stock at $15 a share. The offering would begin once the registration is effective and would continue for 60 days, unless otherwise noted by the company.
EvergreenBancorp also announced Tuesday that it has hired Gordon Browning as its chief financial officer. Mr. Browning will join the company Monday. He was the CFO for the $143 million-asset NWB Financial Corp. in Seattle before Pacific Continental Corp. in Eugene, Ore. bought it last year. He will succeed William G. Filer 2nd, who resigned in June.
