John Marshall Bank in Reston, Va., could raise $32.4 million in a public offering, according to newly released pricing information.
The bank said in a news release Wednesday that it plans to sell 2.4 million shares of common stock at $13.50 each. The sale is expected to close Nov. 15.
The $627 million-asset John Marshall said it would use proceeds from the sale to support lending, deposit-taking, investment activities and other growth initiatives.
Founded in 2006, John Marshall has seven offices in the District of Columbia, Virginia and Maryland.