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Friendswood Capital raises $19.5M

Friendswood Capital Corp., the parent company of Houston-based Texan Bank NA, has closed a private placement for $19.5 million of its common and preferred stock.

The stock was sold to accredited investors from communities the bank serves and to institutional investors specializing in the banking sector.

Hovde Group LLC served as sole placement agent in the offering; Bracewell LLP was legal counsel.