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Tri-County Financial gets $20M equity investment from Castle Creek affiliate

Mendota, Ill.-based Tri-County Financial Group Inc. completed a private placement of its common and preferred stock with a Castle Creek Capital LLC affiliate.

Tri-County issued 95,564 common shares at $35.52 per share. It also issued preferred stock convertible into 467,500 common shares; they were also sold at $35.52 per share. Gross proceeds amounted to $20.0 million.

Raymond James & Associates served as placement agent, while Howard & Howard acted as legal counsel. Barack Ferrazzano Kirschbaum & Nagelberg LLP was Raymond James' legal counsel.