Carolina Bank Holdings Inc. in Greensboro, N.C., said Thursday that it has raised $8.3 million of capital through a private placement of subordinated, unsecured notes to institutional buyers.
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In a news release, president and chief executive officer Robert T. Braswell, said the capital it raised is "nondilutive" to shareholders and would return the company to well-capitalized status.
The company did not disclose its total risk-based capital ratio at June 30 in its second-quarter earnings report. Its ratio at March 31 was 9.74%.
The notes have a floating rate that will reset quarterly at 4% above the three-month London interbank offered rate. They have an initial interest rate of 6.08% and will mature in 10 years.
