Level One Bancorp, Inc. has Completed a $13.2 Million Capital Raise Transaction
THE TRANSACTION
DPP acted as exclusive sales agent for Level One Bancorp, Inc. (“Level One”) in raising $13.1 million in equity capital. DPP complemented Level One’s strong insider and retail interest with a focused solicitation to the institutional market and was able to attract interest from such investors. In addition to working with the institutional investors, DPP was able to attract interest from its own network of proprietary investor relationships.
Our Client
LEVEL ONE BANCORP, INC.
Level One's banking subsidiary, Level One Bank (the “Bank”), is a full service commercial financial institution. The Bank is a highly focused lender to small and medium sized businesses with an emphasis on core deposits. The Bank’s customers are primarily professional service firms and emerging service businesses.
In 2009, the Bank acquired the core deposits and a small performing loan portfolio from the FDIC relating to the closing of nearby Michigan Heritage Bank. The use of proceeds of the offering will be used for general corporate purposes, including infusing capital into the Bank to support future growth, acquisitions of assets or stock of community banking institutions, including FDIC assisted deals.
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