Victory Bancorp in Limerick, Pa., said Wednesday that it raised $2.6 million in capital.
The company sold convertible preferred securities with a 7% coupon. Victory, the parent of the $92.1 million-asset Victory Bank, said it completed the third and final phases of its offering on July 7.
"As expected, this capital raise was similar to our first, with the vast majority of the investment capital provided locally by our team members, board, existing shareholders and our clients," Joseph W. Major, Victory's chairman and chief executive, said in a press release. "We are extremely pleased to have received their continued support which will allow the bank to continue to grow and make loans in our local community."
