Community banks raise millions in private deals
July 6, 2009
By MoneyAisle
An article in the Birmingham Business Journal reports that community banks of Birmingham have been raising millions of dollars through private stock offerings at least six months ahead of larger banks, many of which have only recently started selling large amounts of stock.
As Stephen Yoder, assistant professor at the University of Alabama at Birmingham’s School of Business, said, “A well-run community bank doesn’t wait to be told to raise money. It looks to its financials and looks to raise capital when it’s prudent to do so.”