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The Fed finalized a rule increasing an asset-size threshold that lets smaller banks finance deals with up to 75% in debt. That benefit, along with an exemption from Basel III capital rules, could prompt some bankers to second-guess short-term growth as they weigh their options.
May 29 -
Foundation Bancorp in Bellevue, Wash., has sold $15 million of convertible preferred stock in a private offering.
March 27 -
Vincent Delie, CEO of F.N.B., discusses the costs of and difficulty in complying with size-related regulations, his outlook for acquisitions and the Baltimore market.
May 5
Revere Bank in Laurel, Md., has raised $15.5 million through a private placement of its common stock.
The $717 million-asset bank sold 1 million shares at $15.50 per share. Revere closed the offering in April and announced the closing in a Monday news release.
Revere plans to use the proceeds to meet its "goal of maintaining capital levels well above regulatory requirements while providing above average returns for our investors," Andrew Flott, chief executive, said in the release.
Revere also plans to use the proceeds to maintain its annual growth rate of 20% to 30%. Revere also wants to reach $1 billion in assets by 2017 and sell shares to the public at an unspecific date.
