Endeavor Bank has extended the cutoff date to invest in its capital offering from January 24, 2020 to February 21, 2020.
Momentum has accelerated in recent weeks and so by extending the deadline, the bank anticipates the additional time will maximize the amount of capital it hopes to raise in this capital round.
“We are raising more capital to enable us to grow faster by hiring more producers, and to increase the Banks’ legal lending limit in order to better serve our target market. We have a significant number of new investors participating in this round as well as continued support from current investors,” said Dan Yates, CEO._x000D_
Steve Sefton, president, added, “We believe that our strong asset, loan, and deposit growth in 2019 reflects the opportunity that exists in the local market for Endeavor’s brand of business banking. We believe this is a compelling case for investors to consider joining us by investing in this round. Ordinarily, banks use an investment banker or professional fundraiser to find investors. Instead, the Endeavor Bank team chose to raise capital using a grass roots approach led by management targeting local business owners rather than institutional investors. If the offering was completed today, our local shareholder base would increase from the original 452 shareholders to over 600. We expect that number to grow by the time we finish the raise. That over 90% of our shareholders are locally based provides a built-in affinity group to support the Bank.”
Headquartered in downtown San Diego. Endeavor Bank also operates a loan production office in Carlsbad. Endeavor Bank provides traditional business banking services across a broad spectrum of industries and specialties.
