A proposed de novo bank in Winston-Salem, N.C., has raised more than half of of its initial capital.
Organizers of Community Bank of the Carolinas said in a press release Tuesday that the bank has raised about $13.6 million from nearly 500 investors. The group is looking to raise $25 million to $30 million.
The bank received regulatory approval in June to issue common stock.
“The energy behind this stock offering has grown significantly over the past several weeks,” Skip Brown, the proposed bank’s chairman and CEO, said in the release.
“Investors realize that the consolidation of the financial industry has all but eliminated community banking in our area,” Brown added. “Whatever the industry, customers will never tire of high-end, personal attention."
Community Bank of the Carolinas is one of four new de novo efforts in North Carolina. The others are looking to open in Statesville, Monroe and Raleigh.
Organizers will continue to sell shares at $11 each through Dec. 31, though they can extend the deadline.
