May 22, 2006
Anderson & Strudwick Investment Corporation recently completed a $15.55 million private placement offering for ICB Financial (OTCBB - ICBN). Headquartered in Ontario, California, ICB Financial is a one-bank holding company to Inland Community Bank, N.A. with $125.9 million in assets.
Anderson & Strudwick closed the oversubscribed offering in just over a month. Proceeds from the offering will be used to fund the acquisition of Duarte, California based Western State Bank and further enhance the Bank’s competitive posture and growth. Anderson & Strudwick also represented ICB Financial in the acquisition of Western State Bank, which was announced on December 6, 2005 and closed on May 22.
Anderson & Strudwick has raised over $100 million for community banks over the last two years and ranks 6th nationally in the number of M&A deals advised for financial institutions since January 2005 according to SNL Financial.
Anderson & Strudwick Investment Corp. is the parent corporation of Anderson & Strudwick, Inc., a full-service regional investment firm headquartered in Richmond, VA. With more than 100 investment professionals and support personnel, Anderson & Strudwick provides asset management, securities brokerage, investment banking, insurance products, and related financial services. The company has branch offices in Richmond, Charlottesville, Fredericksburg and Norfolk VA; Charlotte and Hickory NC; Pittsburgh and Bethlehem PA; Knoxville, TN; Columbia and Charleston, SC; and Osterville, MA; and independent affiliates in Virginia, North Carolina and Kentucky. Anderson & Strudwick, Inc.is a member of NASD and SIPC.
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