First Security, Inc., (the “Company” or “First Security”) the bank holding company for First Security Bank, Inc. (the “Bank”), announced today that it has completed a private placement of $30 million of the Company’s stock. The Company plans to use the capital for strategic growth purposes including both organic and acquisitive opportunities. Castle Creek Capital Partners was the lead investor.
“We are thrilled to announce the completion of the Company’s private placement. The additional capital will allow us to execute on our long-term strategic growth plan and take advantage of expansion and growth opportunities within our target markets. The offering participants are some of the best bank investors available and will provide First Security with a team of strategic partners focused on increasing shareholder value” said M. Lynn Cooper, President and Chief Executive Officer of First Security, Inc.