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Foundation Bancorp (FDNB) in Bellevue, Wash., has been released from an enforcement action issued by the Federal Deposit Insurance Corp. and state regulators.
February 25 -
Four Oaks Fincorp in Four Oaks, N.C., has raised $24 million through a rights offering.
August 18 -
The Securities and Exchange Commission just gave unregistered banks a way to quickly raise capital at a fortuitous time and marketplace lending platforms a way to reclaim their peer-to-peer roots.
March 26
Foundation Bancorp in Bellevue, Wash., has sold $15 million of convertible preferred stock in a private offering.
The $398 million-asset company said in a press release Friday that it sold the shares to Castle Creek Capital in California. The preferred stock may be converted to common stock at $10 a share.
Foundation said it would use funds raised from the offering for general corporate purposes including potential growth opportunities.
The company was
"The success of this capital raise is a reflection of the strength of our franchise, the dedication of our employees and the acumen of our business plan as a leading business bank in the greater Puget Sound Area," Diane Dewbrey, the company's president and chief executive, said in the release.
Castle Creek Capital in California was the only investor in the private offering./p>
