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The fast-growing First Virginia Community Bank in Fairfax said Thursday that it sold more than 1.6 million shares at $13.50 each. It plans to use the money to support growth, among other things.
June 6 -
Porter Bancorp in Louisville, Ky., which has been looking to raise capital, has registered 1 million shares of common stock to compensate employees and directors.
June 4 -
The $76 million-asset lender raised the sum from local investors. It began the effort in October and finished at the end of May, its financial advisor, Community Capital Advisors, announced on Monday.
June 3
People's Bank of Commerce (PBCO) in Medford, Ore., has begun an effort to raise $5 million in capital.
The $168 million-asset asset lender is offering as many as 500,000 shares at $10 per share, it announced Monday. The stock closed Friday at $9.85 a share; it had risen 1.5%, to $10, at midday Monday.
People's will sell the shares exclusively to its existing shareholders through July 8, after which it will offer the unsold shares to bank employees and other investors. The offering will run through Aug. 31.
People's will use the proceeds to support its capital levels and to fund growth, it said. Its Tier 1 leverage ratio was 9.97% and its total risk-based capital ratio was 13.35% as of March 31, according to the Federal Deposit Insurance Corp.
People's was founded in 1998 and has two branches, both in Medford.
