The Bank Slate


Illinois, Louisiana, Colorado banks raise $50M via stock sales

Three community banks raised a total of $50 million in capital by completing private placements of common stock.

Illinois National Bancorp in Springfield brought in $29.5 million on Aug. 25, according to data compiled by Performance Trust Capital Partners. Illinois National is the holding company for the $2 billion-asset INB National Association.

Synergy Bancshares in Houma, La., raised $14.4 million. Its private placement closed on Aug. 28. Synergy is the parent company of the $851.6 million Synergy Bank.

Finally, Fortis Bancorp in Denver completed a $5.7 million capital raise on Sept. 8. Fortis is the holding company for the $1.4 billion-asset Fortis Private Bank.

The data did not disclose pricing, investors, or the expected use of proceeds.

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