Standard Bancshares completes strategic recapitalization move
Raised $138 million in new capital
HICKORY HILLS, Ill. — Standard Bancshares, Inc., parent company of Standard Bank and Trust Co., has completed its previously announced placement of $138 million in newly-issued common stock of the company to a group of investors.
“This capital will allow Standard to fully repay its TARP obligations to the U.S. Department of the Treasury, while significantly improving our balance sheet and capital position,” said Lawrence P. Kelley, president, chief executive officer and vice chairman of the company.
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