-Oak Ridge Financial closes common stock offering for Northfield Bancshares.
BANKING AND CREDIT NEWS-August 28, 2012--Oak Ridge Financial closes common stock offering for Northfield Bancshares(C)2012 M2 COMMUNICATIONS http://www.m2.com
28 August 2012 - Minnesota, USA-based investment banking firm The Oak Ridge Financial Services Group, Inc. (NASDAQ: BKOR) said it has completed a common stock offering for Northfield Bancshares, Inc., raising the maximum capital of USD 3.7625m.
Northfield Bancshares is the holding company for Community Resource Bank, Northfield, Minn.
Oak Ridge said that, with the challenges that community banks have faced following the downturn in the real estate market, Oak Ridge's successful offering demonstrates both the value the firm provides to its clients as well as outstanding investor community support for a leadership of Community Resource Bank.
Throughout the past 12 months, Oak Ridge has helped raise capital for two other banks as well. In March 2012, Oak Ridge advised Metro North Bancshares, a bank holding company for The Bank of Elk River, on a capital raise of USD 4.5m of common stock.
In late 2011, Oak Ridge closed on a USD 10m capital raise of subordinated notes for the Minnetonka-based Minnwest Corp., a holding company for Minnwest Banks.
All three of these capital transactions successfully realized the maximum allowable capital approved by each of the companies' boards. This capital provides the necessary resources to execute on their respective strategic plans.
1 USD = 0.633392 GBP
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|Publication:||M2 Banking & Credit News (BCN)|
|Date:||Aug 28, 2012|
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