FVCBankcorp in Fairfax, Va., and Independent Bank Group in McKinney, Texas, are raising capital through private and public offerings of subordinated notes.

The $741 million-asset FVCBankcorp said Monday that it completed a private placement of $25 million of fixed- to floating-rate notes.

FVCBankcorp, the holding company for First Virginia Community Bank, said the notes will mature in 2026. They will have a fixed rate of 6% for the first five years and then a floating rate.

The notes are intended to qualify as Tier 2 capital for FVCBankcorp. It plans to use the proceeds from the offering to support organic growth, for general corporate purposes and "to take advantage of strategic opportunities in the marketplace that may arise," it said in a press release.

Meanwhile, the $5.2 billion-asset Independent Bank Group has launched a public offering of its 5.875% subordinated notes, which are due in 2024. It is "a reopening of the existing series of such notes," the company said in a press release Tuesday.

The raise is for $40 million, Independent Bank Group said. It expects to use the proceeds from the offering to augment capital and support growth at its Independent Bank subsidiary.

Sandler O'Neill served as sole placement agent for FVCBankcorp's private offering and was advised by LeClair Ryan. BuckleySandler advised the Virginia bank.

Sandler O'Neill and U.S. Bancorp Investments are co-book-running managers for Independent Bank Group's offering. Keefe, Bruyette & Woods is a co-manager, along with Stephens and Evercore ISI.

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