ICB Financial settles $15.5 million private placement of shares

By Sheri Kasprzak

New York, May 23 - ICB Financial wrapped a $15.5 million private placement of common stock.

The offering was oversubscribed from the originally intended $8 million offering, according to a statement released Monday evening by the company.

The full terms of the deal were not available by press time Tuesday evening.

Anderson & Strudwick Investment Corp. was the placement agent for the offering.

In other news, ICB completed its acquisition of Inland Community Bank, NA.

Based in Ontario, Calif., ICB is a holding company for Inland Community Bank, NA.

On Tuesday, the stock dipped 5 cents to close at $8.50 (OTCBB: ICBN).

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