Plaza Bank (PZBW) in Seattle has raised $4.2 million through a stock offering.
The $79 million-asset bank said in a press release Thursday that unnamed individual investors participated in the offering. Plaza did not disclose the price the investors paid for its stock.
"The new capital will allow the bank to expand relationships with our existing clients, and allows us to serve a broader range of clients in the Puget Sound area," George Armendariz, Plaza's chairman, said in the release.
McAdams Wright Ragen and Glen Garrison of Keller Rohrback advised Plaza on the stock sale.