Tri-County Financial Corp. (TCFC) in Waldorf, Md., seeks to raise up to $30.6 million in a public offering.
The $979 million-asset company plans to offer up to 1.4 million shares of common stock at $19 per share, according to a Sept. 12 filing with the Securities and Exchange Commission. The underwriters, Keefe, Bruyette & Woods and Sandler ONeill & Partners, will have the additional option of purchasing up to 15% of the amount sold.
Tri-County said that it will use proceeds from the sale for general corporate purposes, including contributing capital to its bank, Community Bank of Tri-County, and supporting growth and acquisitions. The company has no specific acquisition plans at this time, according to its press release.