FIG Has Raised More Than $3.8 Billion
In Equity Capital In 115 Offerings To Date
ATLANTA, September 21, 2017 — Grand Mountain Bancshares, Inc., parent company of Grand Mountain Bank, FSB, has announced the completion of a recapitalization that resulted in the issuance of $5.6 million of common stock and $1.5 million in senior notes.
As part of the transaction, Colorado-based Grand Mountain Bancshares retired its TARP preferred stock held by the United States Department of Treasury. The company also settled its outstanding debt obligations through the payment of cash and the issuance of common stock to debt-holders.
“We are pleased to announce the completion of the recapitalization and the retirement of the TARP preferred stock,” said Frank DeLay, President. “As the only bank based in Grand County, the additional capital places Grand Mountain Bank in a unique position to continue to grow with the local economy. We are excited about the opportunities we can offer to consumers and small business owners.”
The FIG team included Greg Gersack, Senior Managing Principal and Co-Head of Investment Banking; Lozan Aleksandrov, Senior Vice President and Deputy Head of Capital Markets; and Sloan Deerin, Principal.
Since 2003, FIG has been the trusted advisor to community banks and investors. For more information about FIG’s investment banking services, visit www.figpartners.com.