Trustar Bank Completes Third Oversubscribed Capital Raise

GREAT FALLS, Va.--(BUSINESS WIRE)--Trustar Bank is pleased to announce the successful completion of its recent capital raise. The offering surpassed its initial $15 million goal, resulting in a 10% over-subscription and over $16.7 million in subscriptions received.

The Board accepted all subscriptions to accommodate the overwhelming investor support. This is the Bank’s third oversubscribed stock offering, the first taking place prior to the Bank’s inception in early 2019 and the second in 2022.

“We are incredibly grateful for the continued support from our investors. This new capital will further position the Bank to effectively implement our growth strategy while building stockholder value,” CEO Shaza Andersen said.

About the Bank - Trustar Bank is a full-service bank offering comprehensive banking products and services to small- and medium-sized businesses and consumers. It is the first bank to be chartered and opened in Virginia in over a decade. For more information, please visit Trustar Bank online at trustarbank.com.