Security California Bancorp in Riverside has raised $20 million in a private placement of its common stock to refuel its subsidiary, Security Bank of California.

The $321 million-asset company said Thursday that it sold nearly 2.6 million shares at $7.75 a share, representing a 3.1% discount from the previous day's closing price.

Security Bank had $40.6 million in total equity capital as of June 30. The bank was well capitalized, with a total risk-based capital ratio of 14.83%.

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