A group is looking to raise capital in an effort to buy a bank in New York.
Stanley Gorodesky posted on LinkedIn that the group is looking to acquire a $100 million-asset bank in the New York metro area. He did not identify the bank.
The goal is to buy the bank for roughly book value and infuse more capital to expand the equity base and support long-term growth.
While the bank has traditionally focused on community banking, Gorodesky mentioned in the post that his group could explore “fintech-aligned opportunities.”