FVCbank Completes Acquisition of 1st Commonwealth
For Immediate Release — September 27, 2010
FVCbank announced today that it successfully raised just under $6.3 million of common stock in a Private Placement Offering. The Bank sold 501,396 shares of common stock at $ 12.50 per share. “We are very pleased to increase our capital by 33.6%” stated David W. Pijor, Chairman and Chief Executive Officer of the Bank. “This successful offering represents a strong vote of confidence by our investors who believe in the Bank. The additional capital will support FVCbank’s continued growth and expansion at a time when many banks have experienced difficulty raising capital”. This was the first capital campaign since the initial 2007 offering and was oversubscribed.
FVCbank attributes its continued success to the commitment of its shareholders, Board of Directors, experienced and talented team of professional bankers, and loyal customers.