Hyperion Bancshares in Philadelphia raised $14.1 million to expand in its headquarters city and Atlanta.
The $553 million-asset company said in a press release that it sold $8.6 million in common stock and $6.1 million in preferred stock. The capital is expected to support the bank’s strategy while preserving lending capacity and maintaining regulatory capital levels.
Hyperion said it is not looking to use the capital from the oversubscribed offering to pursue acquisitions.