Ga. Commerce Raises $25.5M in New Growth Capital
Ga. Commerce Bank has Johns Creek-area location on Peachtree Parkway.
Georgia Commerce Bancshares Inc. has announced that it raised $25.5 million from existing shareholders and institutional investors. The funds will be used for organic growth, acquisition opportunities, and general corporate purposes. Investors paid $20.50 per share, or tangible book value, for their investment in the bank. This is the bank’s second capital raise in less than three years. The bank last raised capital in late 2010, when it brought in $21 million primarily to fund two acquisitions in 2011. “The success of this offering is a reflection of the quality of our franchise and recognition of our strong financial performance over the last several years,” said Mark Tipton, CEO. “This new capital will support our continued organic …
