Trustar in Virginia raises $16.7 million in fresh capital

Trustar Bank in Great Falls, Va., raised $16.7 million in fresh capital.

The bank said in a press release that it planned to raise $15 million but the offering was 10% oversubscribed.

Trustar was required to raise $55 million million when it opened in 2019; it raised another $18 million in July 2022.

“We are incredibly grateful for the continued support from our investors,” CEO Shaza Andersen said in the release. “This new capital will further position the bank to effectively implement our growth strategy while building stockholder value.”