Delmarva Bancshares, Inc., (the “Company” or “Delmarva”) the bank holding company for the National Bank of Cambridge (the “Bank”), announced today that institutional investors have agreed to purchase $11 million of the Company’s common and preferred stock in a private placement. The Company plans to contribute most of this new capital to the Bank so it can sell the majority CONTINUE READING >>
PEACHTREE CITY, Ga.–(GLOBE NEWSWIRE)–Kenneth H. Maloy, President and CEO of SouthCrest Financial Group, Inc. (SCSG:PK) announced today that the company reported preliminary results for the third quarter of 2013, as well as the completion of the previously disclosed $17.5 million capital raise. On September 27th, SouthCrest funded investments with affiliates of Castle Creek Capital and other institutional investors that total CONTINUE READING >>
Copyright © 2013, Milwaukee Business Journal By Stacy Vogel Davis Anchor BanCorp Wisconsin Inc. has completed its $175 million recapitalization, it said Friday in a news release. The previously announced recapitalization comes after a Chapter 11 reorganization package for the bank was approved Aug. 30. The new capital gives Anchor BanCorp’s subsidiary, AnchorBank, one of the highest capital ratios of CONTINUE READING >>
MADISON, Wis.–(GLOBE NEWSWIRE)–Anchor BanCorp Wisconsin Inc. (“Anchor BanCorp” or the “Holding Company”) today announced that the Holding Company has received court approval of its recently announced plan of reorganization. U.S. Bankruptcy Court Judge Robert Martin approved the plan at a hearing this morning. “This was an important step for AnchorBank to move forward with its recapitalization effort,” said Chris Bauer, CONTINUE READING >>
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