CPAs and Advisors with Your Growth in Mind

Case Study: First Capital Bancorp, Inc.

Cherry Bekaert’s Financial Services Group Assists Bank With Strategic Initiatives For Future Growth Scenario: Within a remarkably short period of time First Capital Bancorp, Inc. completed a successful rights offering netting $17.4 million in new capital and participated in a public auction of the preferred shares issued to the U.S. Treasury, as part of TARP in 2009. They were able to retire $5.4 million of those shares, implement an asset resolution plan and significantly restructure their balance sheet. Cherry Bekaert’s Guidance: In order to successfully complete these concurrent transactions, the Company was required to make multiple filings with the SEC. Read More.