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Tri-County Financial Group, Inc. Completes Stock Offering
Posted: 10/10/2017 | Castle Creek

MENDOTA, IL (October 10, 2017) – Tri-County Financial Group, Inc. (OTC Pink:TYFG), the parent company of First State Bank, today reported the successful completion of a private placement of common and preferred stock yielding gross proceeds of $20,000,033. The offering includes the issuance of 95,564 common shares at $35.52 per share and preferred stock that is convertible following certain permitted transfers into 467,500 shares of common stock at $35.52 per share. An affiliate of Castle Creek Capital is the sole investor in the offering. The Company intends to use the proceeds from the offering to support the growth of First State Bank.

Timothy J. McConville, President and CEO of the Company, commented, “We believe the successful completion of this offering is a significant step forward for our Company, providing the capital we need to continue our growth. Additionally, we are excited to work with Castle Creek, a well-respected community bank investor.”*

Raymond James & Associates acted as placement agent for Tri-County in connection with the offering. Howard & Howard acted as legal counsel to Tri-County. Barack, Ferrazzano, Kirschbaum & Nagelberg LLP acted as legal counsel to the placement agent.

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*The statement quoted above was made by an executive of a Castle Creek portfolio company.

The portfolio company executive has not received compensation for the above statement and this statement is solely his opinion and representative of his experience with Castle Creek. Other portfolio company executives may not necessarily share the same view. An executive in a Castle Creek portfolio company may have an incentive to make a statement that portrays Castle Creek in a positive light as a result of the executive's ongoing relationship with Castle Creek and any influence that Castle Creek may have or had over the governance of the portfolio company and the compensation of its executives. It should not be assumed that Castle Creek's investment in the referenced portfolio company has been or will ultimately be profitable.