Community Bancorp, a Houston, Texas-based bank holding company established to acquire, stabilize and operate failed or distressed U.S. banks, announced this week that it has completed its capital raise and now has committed equity capital in the amount of $1 billion.
Starkville-based Candence Financial last month agreed to be acquired by CBC in its first acquisition. Shareholders will meet Dec. 9 to vote on the purchase, which would buy out Cadence shareholders for $2.50 a share and take the bank private.
CBC”s investors include public and private pension funds, foundations, endowments and similar investors, each with direct ownership in CBC, the company said in a release.
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