Northfield Bancshares in Minnesota has raised almost $3.8 million through a common stock offering.
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The $233 million-asset parent of Community Resource Bank did not identify any particular use for the offering's proceeds in a December regulatory filing. Community Resource has four branches in the Minneapolis area.
Oak Ridge Financial Services Group completed the capital raise for Northfield, the investment bank said Monday. In the past year, Oak Ridge has helped raise capital for two other Minnesota banks. It advised Metro North Bancshares in Elk River, Minn., on a $4.5 million common stock sale in March. The firm also handled a $10 million capital raise for Minnwest in Minnetonka, Minn., in late 2011.
