Recent News

Community Trust Financial Raises $85 Million Through Private Placement
Posted: 12/14/2012 | Castle Creek

By Nicole De Dios

Community Trust Financial Corporation (“Community Trust”) announced today that on December 14, 2012, it raised approximately $85 million in equity capital, before expenses, through a private placement of common stock and nonvoting preferred stock. The lead investors in the offering include funds managed by affiliates of Pine Brook and Castle Creek. No investor acquired more than 9.9% of Community Trust’s pro forma common stock outstanding and Community Trust remains a privately held company. Stephens Inc. served as placement agent for Community Trust in the offering.

The net proceeds from the private placement will be used for general corporate purposes, including continued organic growth and acquisition opportunities.

“The success of this capital raise is a reflection of the quality of our franchise, employees, entrepreneurial culture and strategic plan as a leading financial services provider in the communities we serve,” stated Drake Mills, Chairman, President and Chief Executive Officer. “With this new capital, we will further increase our capacity to meet the loan and deposit needs of our customers. We are also pleased to have the support of several highly respected investors who focus on the financial services industry.”

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