ATLANTA, February 8, 2018 — First Capital Bancshares, Inc. (OTC Pink: FCPB) has announced the completion of a $30 million private placement of common stock.
Proceeds from the offering will be used to support future growth, including an expansion into the Charleston, South Carolina market. The proceeds will also serve the capital needs of its wholly owned banking subsidiary, First Capital Bank.
“We are pleased with the response to our private placement,” said Frank J. Cole, Jr., First Capital’s new Chief Executive Officer. “The successful offering was a vote of confidence by the local investor community in the Company’s plans to expand into the Charleston market. We believe this new capital will allow the Company to continue to grow organically and will support the capital needs of the bank.”
The FIG team included John Schramm, Principal, and Jerad Comarda, Vice President.
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