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Highlands Bancorp completes common stock offering.

BANKING AND CREDIT NEWS-December 27, 2016-Highlands Bancorp completes common stock offering

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Highlands Bancorp, Inc. (OTCPink:HSBK) has announced the successful completion of a private placement of USD8.5 million of common stock, the company said.

The company issued 913,978 shares of common stock at a price of USD9.30 per share to mostly institutional investors. It plans to use the additional capital for general corporate purposes including organic growth initiatives.

FIG Partners, LLC acted as the sole placement agent in the transaction. the company received legal counsel from Windels Marx Lane & Mittendorf, LLP and Cranmore, FitzGerald & Meaney provided legal counsel to the placement agent.

Highlands Bancorp is the holding company for Highlands State Bank, a full service community bank headquartered in Vernon, New Jersey with branch offices in Sparta, Totowa, and Denville New Jersey. The bank provides deposit and loan banking services to consumers and businesses in northern New Jersey. Secure Lending Solutions, Inc., a wholly owned subsidiary of Highlands State Bank, specializes in conventional 1-4 family mortgage loans.

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Publication:M2 Banking & Credit News (BCN)
Date:Dec 27, 2016
Words:189
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