Oak View Bankshares in Warrenton, Va., raised nearly $8 million from a private placement.
The company said in a press release that it sold nearly 560,000 shares of common stock at $14 each. The proceeds will be used for general corporate purposes.
“We are pleased to announce the successful completion of the private placement,” Michael Ewing, the company’s chairman and CEO, said in the release. “This offering positions us for future growth opportunities that we believe will further enhance shareholder value.”
Performance Trust Capital Partners was the financial adviser. Williams Mullen served as legal counsel.