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Cross River Bank parent completes $27M notes offering

Fort Lee, N.J.-based CRB Group Inc., the parent company of Cross River Bank, has completed its offering of $27 million in senior unsecured notes due June 15, 2023.

The notes were sold at par with a 6.25% coupon.

Net proceeds will be used for general corporate purposes, including to support the growth of Cross River Bank.

Sandler O'Neill & Partners LP served as sole placement agent for the offering.