BALTIMORE, Jan. 11, 2024 /PRNewswire/ — Capital Funding Bancorp, Inc. (“CFG” or “the Company”), the holding company for CFG Bank, a top-performing Baltimore-based bank that provides nationwide financing and banking solutions to the healthcare and multifamily industries, today announced the completion of a $160 million capital raise. The capital infusion comprises the previously announced $125 million equity investment from J.C. Flowers & Co. LLC on December 19, 2023, and a $35 million preferred equity investment through a private placement on December 29, 2023. The J.C. Flowers & Co. LLC investment can increase up to $165 million, which would bring the total capital contribution up to $200 million over the next five years.
The combined transactions meet the Company’s growth capital target and complete its capital raise. At the end of 2023, CFG Bank’s total equity capital exceeded $500 million.
About CFG Bank
CFG Bank, headquartered in Baltimore, Maryland, provides flexible financing and online banking solutions to the national healthcare and multifamily markets and the Mid-Atlantic region. CFG Bank is the 6th largest bank in the Baltimore area based on deposits and the largest that is based in Baltimore. CFG Bank has grown from $1 billion in assets at the end of 2019 to over $5 billion in assets at the end of 2023 and is among the five largest and most experienced healthcare bridge-to-HUD lenders in the country, serving its clients and helping them grow for over 30 years. CFG Bank transforms the banking experience by delivering big bank capabilities and expertise, coupled with relationship-driven boutique bank service. CFG Bank has branches in Lutherville and Baltimore City, and a cashless branch in Annapolis. For more information, visit www.CFG.bank, and follow CFG Bank on LinkedIn, Facebook, Instagram and Twitter.
Media Contact:
For Capital Funding Bancorp, Inc. and CFG Bank
Carson Denbow
Warschawski
570-490-0135
[email protected]
This press release is for informational purposes only and shall not constitute an offer to sell, a solicitation of an offer to sell, or the solicitation of an offer to buy the Company’s securities, nor shall there be any sale in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The Company’s securities have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. The Company’s securities are not a deposit and are not insured by the Federal Deposit Insurance Corporation or any other government agency or fund.
SOURCE Capital Funding Bancorp, Inc.
