Fentura Financial, Inc. Announces Commencement of Common Stock Offering Through Private Placement
FENTON, Mich., Aug. 29, 2018 (GLOBE NEWSWIRE) -- Fentura Financial, Inc. (OTCQX:FETM) (“Fentura”), the holding company for The State Bank, announced today that it has commenced a private placement offering of up to $25 million of Fentura’s common stock. Donnelly Penman & Partners, Inc. will act as the sole placement agent for the common stock offering.
Fentura anticipates using the net proceeds from this offering to invest in The State Bank to allow for continued organic growth, opportunistic strategic growth, support regulatory capital ratios, and other general corporate purposes.
Additional Information Regarding the Offering
This press release is for informational purposes only and is not an offer to sell or the solicitation of an offer to buy any securities of Fentura in any jurisdiction where it is unlawful to do so. The offering is limited solely to “accredited investors,” as defined in Rule 501 promulgated under the Securities Act of 1933, as amended (the “Securities Act”), exclusively through Donnelly Penman & Partners, Inc. on a “best efforts” basis. The Securities are being offered in a private placement exempt from the registration requirements of the Securities Act and from any other applicable securities laws and have not been, and will not be, registered under the Securities Act and cannot be sold or otherwise transferred unless the sale or transfer is registered under the Securities Act or an exemption from registration is available.
About Fentura Financial, Inc. and The State Bank
Fentura Financial, Inc. is the holding company for The State Bank. It was formed in 1987 and is traded on the OTCQX exchange under the symbol FETM, and was recognized as one of the Top 50 performing stocks in 2016 on that exchange.
The State Bank is a full-service, 4-Star Bauer Financial rated commercial, retail and trust bank headquartered in Fenton, Michigan. It currently operates 15 full-service branches in Genesee, Livingston, Oakland, Saginaw, and Shiawassee Counties and loan production offices in Washtenaw and Saginaw Counties. The State Bank was ranked #41 by S&P Global in terms of 2017 performance for banks under $1 billion in assets. The State Bank’s commercial department provides a complete array of products including lines of credit, term loans, commercial mortgages, SBA loans and a full-suite of cash management products. The retail department offers personal checking, savings, time and IRA deposit accounts and a wide array of loan products including home equity, auto and personal loans. The residential loan department offers construction, purchase and refinance residential mortgage loans. The wealth management department offers a full-service suite of trust and portfolio management services. The aim of The State Bank is to become and remain “Your Financial Partner for Life.” More information can be found at www.thestatebank.com.
CAUTIONARY STATEMENT: This press release contains certain forward-looking statements that involve risks and uncertainties. Forward-looking statements include, but are not limited to, statements concerning future growth in earning assets and net income. Such statements are subject to certain risks and uncertainties which could cause actual results to differ materially from those expressed or implied by such forward-looking statements, including, but not limited to, economic, competitive, governmental and technological factors affecting the Company’s operations, markets, products, services, interest rates and fees for services. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release
Contacts: Ronald L. Justice President & CEO Fentura Financial, Inc. 810.714.3902 firstname.lastname@example.org Aaron D. Wirsing Chief Financial Officer Fentura Financial, Inc. 810.714.3925 email@example.com