Oregon Pacific Bancorp raised approximately $13.8 million through a private offering.
The Florence, Ore.-based company issued 2,508,750 new shares of common stock, and an existing shareholder sold 500,000 shares in a secondary offering of $2.3 million. In both transactions, the shares were sold at $4.60 each.
Net proceeds are to be used as capital for Oregon Pacific Bank, which plans to continue growing in Lane, Douglas, Coos and Jackson counties in Oregon.
MJC Partners LLC served as sole placement agent for the private offering.
