FIG Has Raised More Than $4.6 Billion In Equity Capital In 140 Offerings
ATLANTA, February 21, 2019 — First Southern Bank has completed a $16.0 million private placement of common stock to institutional and accredited investors.
The Bank issued 2 million shares of common stock at $8.00 per share. The placement has helped restore the Bank’s capital levels to the standards required by federal banking regulations, while providing additional capital to support future growth and for general corporate purposes.
Bill Hughes, President and Chief Executive Officer, said, “We are pleased with the results of the Bank’s strategic decisions made over the past year, our return to profitability and the response to our capital raise. The successful offering was a vote of confidence by the investment community showing strong support for our Bank. This new capital will allow the Bank to continue to grow organically and will support the capital needs for our future.”
The FIG team included Greg Gersack, Senior Managing Principal and Co-Head of Investment Banking; John Schramm, Principal; Lozan Aleksandrov, Senior Vice President and Deputy Head of Capital Markets; and Jerad Comarda, Vice President.
More information is available here.
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