Piedmont Bancorp in Peachtree Corners, Ga., plans to raise $8 million through a private placement of subordinated debt and common stock.

The company said in a press release Monday that it will issue $6 million in subordinated debt and $2 million in stock to unnamed investors. The company said that proceeds would be used to service the subordinated debt and provide capital support to its $352 million-asset Piedmont Bank.

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