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FNBH Bancorp (FNHM) in Howell, Mich., plans to raise up to $1.5 million in a rights offering.
February 19 -
Four Oaks Fincorp (FOFN) in Four Oaks, N.C., could raise more than $27 million in a securities agreement and rights offering.
March 26
Four Oaks Fincorp in Four Oaks, N.C.,
The $815 million-asset company sold 24 million shares of common stock. More than 15 million of those shares were sold to Kenneth Lehman, a private investor
"The tremendous success of this rights offering and the associated standby offering reinforces the capital foundation of the company and builds on the positive trends in our operations and financial results," Ayden Lee, Four Oaks' president and chief executive, said in an press release Monday.
The offering provides Four Oaks with much-needed capital. The company is operating under a
Four Oaks is also looking to move beyond recent legal troubles. The company was involved in Justice Department's Operation Choke Point probe, which has investigated banks' ties to payday lenders.
The company
Lehman, a former banking lawyer, has been buying large stakes in community banks,