Business Digest: Bank raises $2.5 MillionDecember 1, 2010
Bank raises $2.5 million
Santa Cruz County Bank announced Tuesday that it had raised $2,500,560 by issuing 241,600 shares of common stock.
The locally owned bank offered stock at $10.35 per share to a limited number of investors and closed the offering Nov. 19. The stock price has ranged from $8.05 to $12.95 in the past year.
George Gallucci, chairman of the board of directors, issued a statement saying, "We are very pleased to have received such a favorable response to our offering. The capital raised will be used to support our continued growth."