Virginia Partners Bank to sell 500,000 shares of its common stock
Fredericksburg-based Virginia Partners Bank has begun an offering of up to 500,000 shares of its common stock.
The offering price is $10.75 per share. The offering is being made through the efforts of Virginia Partners Bank's directors and executive officers with the assistance of FinPro Capital Advisors Inc.
The bank has the option of increasing the number of shares offered by an additional 500,000 shares in the event the offering is oversubscribed.
The offering is expected to close on or about Dec. 30, but can be extended at the bank’s discretion until Feb. 1.
Virginia Partners Bank has three branches in Fredericksburg and a loan production office in La Plata, Maryland.
As of June 30, the bank had total assets of $250.6 million.