Virginia Heritage Bank (VGBK) in Tysons Corner raised $22 million in its recent public offering.
The company said that Sandler O'Neill, the offering's underwriter, agreed to exercise its option to buy $2.9 million in common stock as part of the offering, which closed on June 21.
Virginia Heritage sold about 1.7 million shares at $14.25 a share. The company's stock was trading at $15.15 a share on Wednesday morning.
The $804 million-asset company said it plans to use the proceeds to fund growth, including possible acquisitions. It has five branches around Washington.