Bank of Santa Clarita, which opened late in 2004, is now planning to raise an additional $7 million with a secondary stock offering. The independent community bank was so successful at raising money for its initial launch, it exceeded its goal of about $12.5 million and, to comply with regulations, had to return some of the excess money raised. Since its opening the bank’s assets have grown to about $31.2 million. James D. Hicken, president and CEO of Bank of Santa Clarita, said the bank filed the application to “support current operations and future expansion opportunites.” He is precluded from providing further details by banking regulations.
Bank of Santa Clarita Requests Second Offering