CapitalMark Announces Capital Raise for Expansion
Chattanooga, Tennessee – June 5, 2012 – CapitalMark Bank & Trust announced today that the Board of Directors authorized a common stock offering of up to $10 million or 800,000 shares at an offering price of $12.50 per share. The stock will be available for purchase by existing shareholders and new investors beginning Monday, June 11th. CapitalMark is offering the stock primarily to fund its expansion, leading with new offices in Cleveland and Oak Ridge, Tennessee.
R. Craig Holley, CapitalMark’s Chairman, President and Chief Executive Officer commented, “Our financial performance and the strength of our balance sheet underscore our ability to execute on a highly successful and efficient model. As our industry emerges from a historically challenging banking climate, the compelling CapitalMark story and successful track record are deemed a bright spot for current shareholders and potential investors.”
Questions about the offering may be directed to Barry Rich, Chief Financial Officer, at 423.756.7878 or Stefanie Crowe, Director of Investor Relations, at 423.386.2668. A complete Offering Memorandum and Subscription Agreement can be found at CapitalMark’s corporate website, www.capitalmark.com.
About CapitalMark Bank & Trust:
CapitalMark Bank & Trust offers a wide range of banking and trust services to businesses and individuals. Founded March 5, 2007, CapitalMark has locations in Chattanooga and Knoxville and will soon open offices in Oak Ridge and Cleveland, TN. Additional information about CapitalMark and its full line of products and services can be found at www.capitalmark.com.
Statements made in this press release, other than those concerning historical information, should be considered forward-looking and subject to various risks and uncertainties. Such forward-looking statements are made based upon management’s belief as well as assumptions made by, and information currently available to, management pursuant to “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Our actual results may differ materially from the results anticipated in forward-looking statements due to a variety of factors, including governmental monetary and fiscal policies, deposit levels, loan demand, loan collateral values, securities portfolio values, interest rate risk management, the effects of competition in the banking business from other commercial banks, thrifts, mortgage banking firms, consumer finance companies, credit unions, securities brokerage firms, insurance companies, money market funds and other financial institutions operating in our market area and elsewhere, including institutions operating through the Internet, changes in governmental regulation relating to the banking industry, including regulations relating to branching and acquisitions, failure of assumptions underlying the establishment of reserves for loan losses, including the value of collateral underlying delinquent loans, and other factors. We caution that such factors are not exclusive. We do not undertake to update any forward-looking statement that may be made from time to time by, or on behalf of, us.