Depositories
Rio Financial Services, Inc. to Acquire Lone Star Capital Bank, N.A.
Rio Financial Services, Inc. to Acquire Lone Star Capital Bank, N.A. THE TRANSACTION On February 20, 2025, Rio Financial Services, Inc. the parent company of Rio Bank, headquartered in McAllen, Texas, and Lone Star Capital Bank (”Lone Star”), headquartered in San Antonio, Texas, jointly announced the signing of a definitive agreement providing for the merger…
Read MoreGogebic Range Bank has agreed to be acquired by Zeal Credit Union
Gogebic Range Bank has agreed to be acquired by Zeal Credit Union THE TRANSACTION On December 30, 2024, Livonia, Michigan-based Zeal Credit Union (“ZCU”), and Ironwood, Michigan-based Gogebic Range Bank (“GRB”), a subsidiary of West End Financial Corp (“WEFC”) announced that ZCU will purchase all of the assets and liabilities of GRB. Upon the completion…
Read MoreGTSB Financial, Inc. has Completed its Initial Common Stock Offering
GTSB Financial, Inc. has Completed its Initial Common Stock Offering THE TRANSACTION On December 18, 2024, Traverse City-based GTSB Financial, Inc. (“GTSB”), a locally-owned and managed Bank Holding Company, completed its initial common stock offering, raising $19.7 million in gross capital exceeding the minimum offering amount of $14.5 million. Previously on October 30, 2024, GTSB…
Read MoreCommunity Unity Bank has Completed its $28.6 Million Initial Offering of Common Stock
Community Unity Bank has Completed its $28.6 Million Initial Offering of Common Stock THE TRANSACTION On November 13, 2023, Community Unity Bank (the “Bank” or “CUB”) completed its initial common stock offering raising $28.6 million in gross proceeds. The offering size exceeded the $25 million minimum capital raise under the terms of the offering. CUB,…
Read MoreFirst Independence Corp. Completes Issuances of $66.6 Million in Preferred Stock
First Independence Corp. Completes Issuances of $66.6 Million in Preferred Stock THE TRANSACTION Detroit based First Independence Corporation, parent company of First Independence Bank, a Minority Depository Institution (MDI) and Community Development Financial Institution (CDFI), announced it has closed a series of nine preferred equity capital transactions totaling $66.6 million since the beginning of 2021.…
Read MoreGulf Coast Business Bank has Completed its $23.6 Million Initial Common Stock Offering
Gulf Coast Business Bank has Completed its $23.6 Million Initial Common Stock Offering THE TRANSACTION On June 6, 2022, Gulf Coast Business Bank (“GCBB” or the “Bank”) completed its $23.6 million initial common stock offering which was over subscribed and exceeding the $20.5 million minimum amount of capital required to open the Bank. The offering…
Read MoreUnion Financial Corporation has Completed a $6.0 Million Subordinated Notes Offering
Union Financial Corporation has Completed a $6.0 Million Subordinated Notes Offering THE TRANSACTION On December 17, 2021, Union Financial Corporation (“Union”), the holding company for Union Bank, announced the closing of a private placement of $6.0 million in aggregate principal amount of its 3.50% fixed-to-floating rate subordinated notes due 2031 (the “Notes”). The Company intends…
Read MoreFirst Independence Corporation has Completed a Preferred Stock Offering.
First Independence Corporation has Completed a Preferred Stock Offering. THE TRANSACTION On December 1, 2021, Detroit based First Independence Corporation, parent company of First Independence Bank, a minority depository institution, announced that it has closed equity capital investments with three commercial banking institutions. The 51 year old financial institution received equity investments from Citicorp, headquartered…
Read MoreUnion Financial Corporation has Completed a $6.0 Million Common Stock Offering
Union Financial Corporation has Completed a $6.0 Million Common Stock Offering THE TRANSACTION On March 31, 2021, Union Financial Corporation (“Union”), the holding company for Union Bank, announced that it has completed the issuance of its common stock for a total of $6.0 million in gross proceeds. The offering was made to “accredited” investors only…
Read MoreMiCommunity Bancorp, Inc. has Completed its $30 Million Initial Offering of Common Stock
MiCommunity Bancorp, Inc. has Completed its $30 Million Initial Offering of Common Stock THE TRANSACTION On June 27, 2019, MiCommunity Bancorp, Inc. (the “Company”), parent of Mi BANK, completed its $30 million initial common stock offering. The $30 million offering size exceeded the $25 million of capital required to open Mi BANK. Mi BANK, located…
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