StellarOne Corp. of Charlottesville, Va., wants to raise up to $60 million in capital, mainly to improve its liquidity and capital, and to repurchase its Troubled Asset Relief Program investments.

StellarOne filed a shelf registration statement with the Securities and Exchange Commission Tuesday to raise capital in the future. The holding company for StellarOne Bank has nearly $3 billion of assets.

StellarOne said the proceeds would be used for general corporate purposes, including repaying its debt and trust-preferred securities, repurchasing its $30 million in preferred stock and warrants in Tarp, and making acquisitions.

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