LAKEWOOD, Colo., June 04, 2018 (GLOBE NEWSWIRE) -- Solera National Bancorp, Inc. (OTC:SLRK) (the “Company”), the holding company for Solera National Bank (“Bank”), a business-focused bank primarily serving the Denver metropolitan area, announced today that it successfully completed its previously announced rights offering (the "Rights Offering"), which expired at 5:00 p.m. Mountain Time on May 31, 2018.
In the Rights Offering, all holders of the Company's common stock as of the record date of January 29, 2018 were offered non-transferable rights to purchase one share of the Company's common stock for every two shares of common stock held at the per share purchase price of $7.25. The aggregate number of shares offered for sale was 1,365,656 of which 1,332,307 were subscribed for, resulting in new capital of approximately $9.7 million.
Martin P. May, President and CEO, commented: “We are extremely pleased with the outcome of our Rights Offering. We would like to thank our shareholders for their vote of confidence and continued support of the Company. The incremental capital will enable us to continue our growth trajectory, increase the Bank’s legal lending limit and pursue strategic opportunities.”
About Solera National Bancorp, Inc.
Solera National Bancorp, Inc. was incorporated in 2006 to organize and serve as the holding company for Solera National Bank, which opened for business in September 2007. Solera National Bank is a community bank serving emerging businesses primarily in the Front Range of Colorado. At the core of Solera National Bank is welcoming, inclusive and respectful customer service, a focus on supporting a growing and diverse Colorado economy, and a passion to serve our community through service, education and volunteerism. For more information, please visit http://www.SoleraBank.com.
Cautions Concerning Forward-Looking Statements:
This press release contains statements that may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements contained in this release, which are not historical facts and that relate to future plans or projected results of Solera National Bancorp, Inc. and its wholly-owned subsidiary, Solera National Bank, are forward-looking statements. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected, anticipated or implied. We undertake no obligation to update or revise any forward-looking statement. Readers of this release are cautioned not to put undue reliance on forward-looking statements.
Contact: Martin P. May, President & CEO (303) 937-6422 or Melissa K. Larkin, EVP & CFO (303) 937-6423