Williams Mullen Helps Bay Banks of Virginia Raise $35 Million in Common Stock Offering
On Aug. 31, 2017, Bay Banks of Virginia, Inc., parent company for Virginia Commonwealth Bank, announced they had closed a private placement of $35 million of common stock. Williams Mullen's Scott Richter, Lee Lester, Ben McCall, Mark Zaruba, Charles Kemp, Conrad Garcia and Anna Derewenda assisted with the transaction, along with investment banking firm FIG Partners, LLC, out of Atlanta. Virginia Commonwealth Bank is now the 3rd largest community bank headquartered in Richmond and expects that the increased capital will help fuel future growth. Click the link below to read a press release announcing the closing.