Signature Bank Raises Over $5 Million to Fuel Growth
Signature Bank of Georgia has successfully raised over $5 million dollars through an offering of the bank's common stock.
Sandy Springs, Georgia, September 1, 2015 (Newswire.com) - Signature Bank of Georgia has successfully raised over $5 million dollars through an offering of the bank’s common stock, according to the bank’s President and CEO, Freddie Deutsch.
“We are pleased to report that we have exceeded our goal to fund future growth and accelerate the disposition of the bank's remaining problem assets,” said Deutsch.
The new equity capital was raised through an offering of its common stock to existing shareholders and new accredited investors.
“The Board and I were delighted by the strong demand for our stock from both new and existing shareholders,” said Deutsch. “Their confidence to invest in Signature Bank will help us grow our capital base, build earnings and expand our market share.”
“We are excited to put this additional capital to work by continuing to grow our bank in the vibrant North Atlanta corridor,” said Stephanie L. Vickers, Executive Vice President and Chief Financial Officer. “We are the bank that ‘Makes it Personal’ and we invest a lot of time and energy to help make our clients successful. Having investors show the same confidence in us is gratifying.”
Atlanta-based BSP Securities, LLC, a wholly owned subsidiary of Banks Street Partners, LLC, served as the exclusive placement agent in the offering and James-Bates-Brannan-Groover-LLP served as legal counsel to Signature.
About Signature Bank of Georgia
Established in 2005, Signature Bank of Georgia is the only locally owned and operated community bank headquartered in Sandy Springs, GA. The bank offers a full range of business and consumer deposit products and loans in the metropolitan Atlanta area and throughout the state of Georgia and is a preferred lender with the Small Business Administration.
Signature Bank of Georgia is located at 6065 Roswell Road, between Hammond and Hilderbrand drives. For more information, visit the bank’s website at www.SignatureBankGA.com.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities of Signature.
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