Trustar Bank in Great Falls, Va., has raised more capital to fuel expansion in northern Virginia.
The $546 million-asset bank said in a press release that it brought in $18 million. The bank, which planned to raise $15 million, received more than $20 million in subscriptions.
Trustar’s original capital raise in 2019 was also oversubscribed.
“We are excited to have the continued investor support affording us the opportunity to build an outstanding financial institution serving the needs of our community,” Shaza Andersen, the bank’s CEO, said in the release.
“This new capital will further position the Bank to effectively implement our growth strategy and build stockholder value,” Shaza Andersen, the bank’s CEO, said in the release,” Andersen added.