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Metro Phoenix Bank closes private placement


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Metro Phoenix Bank closes private placement

Metro Phoenix Bank recently completed a $10 million private placement of its common stock.

The Phoenix-based bank issued 1,333,334 common shares in the offering, priced at $7.50 each. Proceeds will be used to increase Metro Phoenix's banking activities in the greater Phoenix market.

MJC Partners LLC and FIG Partners LLC acted as placement agents for the offering.