NATCHITOCHES PARISH, La., Nov. 6, 2024 /PRNewswire/ -- Grant Bancshares, Inc., the holding company for BOM Bank, has successfully completed a private placement of $70 million in fixed-floating-rate subordinated notes due December 31, 2034. This funding will be utilized for general corporate purposes and potential future strategic opportunities at the CDFI-based bank in Natchitoches Parish, LA. The Mission Driven Bank Fund served as the lead investor in this transaction, furthering its mission to expand financial services in underserved communities.
"The Fund is dedicated to partnering with more mission-driven banks, prioritizing support for these essential players in our national economy," said Paul Welch, portfolio manager of the Fund.
Full release available here.
