The Bank Slate


Banks in Michigan, Ohio, NY completes private placements

Banks in Michigan, Ohio and New York completed private placements of common stock.

Bank Michigan Financial in Brooklyn sold $4.1 million of stock on Jan. 3, according to a regulatory filing. The $119 million-asset bank disclosed that the minimum purchase was $25,000.

Grasshopper Bancorp in New York raised $10 million, based on data compiled by Performance Trust Capital Partners. The $689.5 million-asset bank’s private placement took place on Jan. 5.

Finally, Waterford Bancorp in Toledo, Ohio, brought in $2.2 million on Jan. 10. The data didn’t show any other details for the $1.7 billion-asset company’s capital raise.

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