Capital Funding Bancorp, Inc. parent company of CFG Community Bank today announced that it has completed a private placement of $35 million in subordinated debt. The Notes are scheduled to mature on March 1, 2027.
Approximately $30 million of the proceeds will be contributed to the Bank as Tier 1 capital. The Bank intends to use the proceeds to grow the community bank and for general corporate purposes. The Notes were assigned an A- bond rating from the Egan-Jones Rating Company (EJR).
“We’re pleased to have been able to place this growth capital so quickly and for the offering to have been oversubscribed,” said Jack Dwyer, Chairman of the Board and Sole Owner of CFG Community Bank. “The proceeds will be used expand the lines of business within the community bank.”
About the Company:
Capital Funding Bancorp, Inc. is the holding company for CFG Community Bank. CFG Community Bank is a state-chartered, FDIC-insured bank that was incorporated in 2009. Based in Baltimore, Maryland, CFG Community Bank is focused on delivering big-bank capability and expertise with relationship-driven community bank service.
