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TriState Capital closes $35M preferred stock offering

TriState Capital Holdings Inc. has closed a depositary share offering for its series A preferred stock, raising approximately $33.5 million, net.

The Pittsburgh-based company said proceeds will go toward general corporate purposes and selective asset-management acquisitions.

TriState Capital is the $4.78 billion-in-assets holding company of Chartwell Investment Partners LLC and TriState Capital Bank.