CommunityOne Bancorp said Tuesday that it raised $25 million in fresh capital in a private stock placement.
The Charlotte-based bank disclosed in securities filings that it sold shares to a group of unnamed investors at a price of $10.56 per share, which is about 8 percent less than Tuesday’s closing price of $11.45.
Executives said the money would be used to help increase the bank’s lending in 2015. The bank spent the past year hiring in its commercial, real estate and residential mortgage lending divisions and expanded into Raleigh and Winston-Salem.
“The participation by our largest investors in the offering indicates their support of our 2015 goals,” bank chairman Chan Martin said in a statement. “We look forward to continuing to serve the communities in which we do business next year.”
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