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Highlands Bancorp (HSBK) in Vernon, N.J., has agreed to buy Secured Lending Solutions, a mortgage banking company in Glen Rock, N.J.
October 25 -
The most profitable 200 community banks and thrifts as ranked by three-year average ROE.
April 28 -
Valley Financial (VYFC) in Roanoke, Va., has exited the Troubled Asset Relief Program after issuing $11 million in subordinated debt to an unnamed accredited investor.
October 16 -
First Merchants (FRME) in Muncie, Ind., has issued $70 million in debt to pay off a loan from Bank of America (BAC).
November 6
Highlands Bancorp (HSBK) in Vernon, N.J., has raised $5 million by placing subordinated debt.
The $224 million-asset company said in press release that it plans to use the funds to supplement capital levels and for long-term strategic growth. Highlands did not identify the entity that obtained the debt.
There has been a recent
The increased demand lets banks raise capital at a cheaper rate compared to issuing equity, while filling a funding gap left by the downfall of trust-preferred securities.
FIG Partners was the placement agent for Highlands. Windels Marx provided legal advice.