The Bank Slate


Three community banks complete private placements

Three community banks completed private placements of common stock that collectively brought in nearly $45 million of capital.

Iron Bancshares in Salisbury, Conn.; Thread Bancorp in Rogersville, Tenn.; and First Capital Bancshares in Charleston, S.C., raised capital between April 11 and April 14, according to data compiled by Performance Trust Capital Partners.

The $417 million-asset Thread raised $25.2 million. The company recently brought on a Banking-as-a-Service client and hired a banker to handle fintech partnerships.

The parent of the $292 million-asset National Iron Bank raised $6 million, while First Capital, which has $569 billion of assets, brought in about $13.4 million.

Performance Trust didn’t have information on which individuals or firms participated in the placements or what the banks planned to do with the new capital.

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