$6.4 Million Raised in Oversubscribed Stock Offering
February 1, 2017 - Neighborhood Bancorp, parent of Neighborhood National Bank, today announced the completion of their recapitalization. The oversubscribed offering raised $6.4 million and exceeded the company’s expectations.
“The new capital strengthens the bank and allows us to better serve both new and existing customers,” said Dan Yates, Neighborhood National Bank CEO. “We are especially gratified by the commitment shown by our existing institutional shareholders,our customers and the entire team here at Neighborhood.”
The investment was led by Stephen Taylor, a noted California bank investor who has led successful recapitalization efforts at numerous institutions in recent years. ....see more
Neighborhood Bancorp Announces Definitive Agreement for Recapitalization
$6 Million Investment Will Double Capital
August 31, 2017 – Neighborhood Bancorp, the holding company for Neighborhood National Bank, announced today a definitive agreement that will result in doubling the bank’s capital. The investment of $6 million is led by Stephen Taylor, Chairman of Chicago-based Taylor Asset Management, who is noted investor in California community banks.
"This agreement represents an important step in recapitalizing and positioning the bank for future growth," said Dan Yates, Neighborhood Bank's President and CEO. ....see more