Revere Bank in Laurel, Md., has raised $31 million in a subordinated debt offering that it plans to use for M&A and other purposes.

The proceeds are expected to support the $1.2 billion-asset bank's $65.1 million acquisition of Monument Bank in Rockville, Md., which is scheduled to be completed Friday, a Revere spokeswoman said. They will also be used for acquisitions, loan growth, additional liquidity and working capital, as well as other corporate purposes, she said.

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