Beacon Community Bank in Charleston, S.C., has raised $34.1 million in capital.
The $36 million-asset bank, which opened in January, completed a private placement this month, according to a press release from its financial adviser, Community Capital Advisors. Community Capital did not disclose how the bank plans to use the proceeds.
Beacon was
“I am very proud to have raised capital for the first bank charter in South Carolina in 10 years,” Shaun Dalton, a managing director at Community Capital Advisors, said in the release. Beacon "will fill a void in the marketplace left behind by a wave of M&A activity.”
De novo
Beacon was the
Beacon, which has a single branch in downtown Charleston, focuses on small business, entrepreneurs, real estate developers and retail customers.