trending Market Intelligence /marketintelligence/en/news-insights/trending/fgedfyIc_qA0-BEbOaCGXQ2 content esgSubNav
Log in to other products

 /


Looking for more?

Contact Us
In This List

Mountain Commerce Bancorp raises $20M from private placement

Blog

Banking Essentials Newsletter: May Edition

Blog

Latin American and Caribbean Market Considerations Blog Series: Focus on IFRS 9

Blog

Banking Essentials Newsletter: April Edition - Part 2

Blog

The Evolution of Cloud Banking: Successful Implementation & Frameworks


Mountain Commerce Bancorp raises $20M from private placement

Knoxville, Tenn.-based Mountain Commerce Bancorp Inc. completed a $20 million private placement of common stock on Dec. 29, 2016.

According to a letter to shareholders, the company issued 1,666,667 shares at $12 per share. Bank President and CEO William Edwards III said in the letter that the proceeds will be used to "support growth initiatives."

The company is also planning to list its shares on the OTCQX bank market.

Raymond James & Associates Inc. acted as placement agent for the company, while Bass Berry & Sims PLC served as legal adviser for the transaction.