Victory Bancorp in Limerick, Pa., is seeking to raise $6 million in a common stock offering.
The $185 million-asset bank said in a press release Tuesday that it is offering 800,000 shares of its common stock at a price of $7.50 each.
The stock sale began in June and will end on or before Dec. 31, Joseph Major, the chairman and CEO of the company and its Victory Bank subsidiary, told American Banker on Wednesday.
Victory plans to use the proceeds from the offering for general corporate purposes.
"We basically intend to do more of what we've been doing since we opened, which is to continue to grow the balance sheet with organic growth," Major said. "If you look at our percentages in recent years, we have 12% to 14% balance-sheet growth and loan growth. This will allow us to continue on our growth trajectory that we've been on."