Sussex Bancorp (SBBX) in Franklin Lakes, N.J., plans to sell up to $7.2 million in common stock.
The $518 million-asset company said Friday it would offer as many as 1.2 million shares to current shareholders at a price of $6 per share.
Shareholders of record as of May 31 will have the option to buy roughly one share for every three they own. Shareholders who purchase the additional shares also will have the option to purchase any shares that remain after the offering, which is expected to end on July 29.
A group of high-net-worth investors has promised to buy up to 404,000 shares if any remain after that.
Sussex has nine branches in northern New Jersey and southeastern New York.