GREAT FALLS, Va.--(BUSINESS WIRE)--Trustar Bank is pleased to announce the successful completion of its recent capital raise. In less than a month’s time, the offering surpassed its initial $15 million goal, resulting in an over-subscription of 36% and over $20 million in received subscriptions. To accommodate the overwhelming investor support, the offering will be “up-sized” by approximately 20%, for a total capital raise of $18 million. This is the Bank’s second oversubscribed stock offering, the first taking place prior to the Bank’s inception in early 2019.
“We are excited to have the continued investor support affording us the opportunity to build an outstanding financial institution serving the needs of our community. This new capital will further position the Bank to effectively implement our growth strategy and build stockholder value,” CEO Shaza Andersen said.
About the Bank - Trustar Bank is a full-service bank offering comprehensive banking products and services to small- and medium-sized businesses and consumers. It is the first bank to be chartered and opened in Virginia in over a decade. For more information, please visit Trustar Bank online at trustarbank.com.
