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FNBH desperately needs capital after regulators shot down a plan that had a hefty percentage of debt. The company is hoping an equity infusion by a big investor will help it get on track.
August 20 -
Viable restructuring alternatives to bank holding company debt do exist and will open the door to conventional M&A options or attract fresh equity.
October 11
FNBH Bancorp (FNHM) in Howell, Mich., has raised $16.4 million through a private placement.
The $302 million-asset company
FNBH
At Sept. 30, FNBH had a 3.4% Tier 1 leverage ratio and a 6.7% total risk-based capital ratio, according to the Federal Deposit Insurance Corp.
The company lost more than $40 million from 2007 to 2011. It earned $286,000 in the third quarter, bringing its total profit in the first nine months of last year to $2.9 million.