Level One Bancorp, Inc. Completes $16.7 Million Capital Offering for De Novo Community Bank
THE TRANSACTION
DPP acted as exclusive placement agent to Level One Bancorp, Inc. ("Level One"), parent of Level One Bank (the "Bank"), in all facets of the $16.7 million capital raise. DPP assisted in compiling investor lists, preparing investor offering materials and presentations, assisting directors in the solicitation of investor interest, including one-on-one meetings and assisting in opening new IRA accounts. In addition to working with the directors, DPP was able to attract interest from institutional investors and from its own proprietary investor relationship base.
Our Client
LEVEL ONE BANCORP, INC.
Level One Bank opened for business in the City of Farmington Hills on Friday, October 5, 2007. The Bank will serve Farmington Hills, West Bloomfield, Franklin, Orchard Lake Village, Bloomfield Township and their surrounding areas, focusing on traditional banking needs delivered in an exceptional, personal manner. The Bank is a full service commercial and consumer financial institution. To meet the community’s banking needs, the Bank will offer relationship banking to its commercial clients, who are primarily professional service firms and emerging service businesses. For consumers, the Bank will provide a wide range of loan and deposit services, including mortgages. Level One’s Board of Directors, management team and decision making capabilities will offer the products and services that are more likely to meet the specific needs of the community in comparison to the competition, which in the majority of cases, make decisions from outside the market area.
The President and CEO of the Bank is Patrick J. Fehring. Mr. Fehring has 27 years of experience in the financial services industry with the last 15 years as president of two banks: Fifth Third Bank in Central Ohio and Fifth Third Bank in Eastern Michigan. The Chief Lending Officer is Gregory Wernette, formerly with Comerica Bank.
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