Georgia Banking in Atlanta has raised $27.2 million through a private placement.
The $1 billion-asset company raised the capital on April 28, according to data compiled by Performance Trust Capital Partners. The report did not disclose the investors or the pricing.
Georgia Banking was recapitalized in 2021 by an investor group led by Bartow Morgan Jr. The group raised $180 million to fund growth and build a commercial and private banking franchise.
The company then agreed to buy Peoples Banktrust in Buford, Ga.