MainStreet Bank in Fairfax, Va., has raised nearly $13 million by issuing common stock.

The $322 million-asset bank said in a press release last week that it sold shares to existing shareholders and institutional investors. MainStreet did not specify the number of shares it sold.

The capital raise "substantially increases the overall lending capacity of the bank," the release said.

FIG Partners in Atlanta managed the offering.

MainStreet has five branches in northern Virginia, according to the Federal Deposit Insurance Corp.

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.