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Article: Cherokee Banking Company Gets $4.1 Million to Bolster its Capital Position and Take Advantage of Growth Opportunities
- Article from:
- Wireless News
- Article date:
- November 6, 2009
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Wireless News
11-06-2009
Cherokee Banking Company Gets $4.1 Million to Bolster its Capital Position and Take Advantage of Growth Opportunities
Type: News
Cherokee Banking Company, the holding company of Cherokee Bank, N.A., announced that it has closed a Private Placement Offering of common shares in Cherokee Banking Company in which it raised $4.1 million.
The private offering, managed by Dean Waters of Commerce Street Capital, closed October 29th after the sale of just over 1 million shares.
The company is using $3.25 million of the offering's proceeds to bolster Cherokee Bank's capital position, bringing its total risk- based capital ratio to 12.45 percent and its Tier 1 risk-based ...