Green Bancorp Poised For Expansion After $100 Million Raising

Vanessa Doctor

8 July 2010

Green Bancorp has successfully completed a $100 million equity capital raising with three independent investment firms as it seeks to expand its fund base for imminent expansion.

"With this new capital, Green Bank will contine to support well-managed Texas business to fuel growth," said Geoff Greenweade, the company's president and chief executive officer. "It will also facilitate our expansion in Austin and our entrance into the North Texas market."

The new investors include funds affiliated with Friedman Fleischer & Lowe, Harvest Partners, and Pine Brook Road Partners. No investor owns greater than 24.9 per cent of the firm's common stock.

As a result of the capital raising, Green Bank will have total common equity of around $150 million, leading to an increase in its Tier 1 Capital Ratio from 8.3 per cent to about 25 per cent as of 30 June 2010. The bank has said its commercial and private banking staff are actively seeking commercial loan opportunities and core personal and business deposit relationships.