Lyons Bancorp, Inc. Completes Capital Raise
Lyons Bancorp, Inc., the parent company of The Lyons National Bank, announced the successful completion of a $5 million private placement offering of 5.00% non-cumulative, convertible preferred stock to accredited investors.
“The capital raised will support our organic growth as we continue to increase our market share in all of the communities we presently serve,” said Robert A. Schick, Board Chairman and CEO. “We expect to receive regulatory approval soon to open our 14th branch office, and are exploring the acquisition of a financial, non-bank business. This private stock offering has positioned LNB to make the most of the improved business and economic outlook.”