For those who have not checked the news lately

SBFC completed a new private placement stock issue last week. It was reported as 682,894 shares at $13.25 per share for about $9,000,000. In addition they raised another $3,000,000 in subordinated debenture. Insiders purchased approximately 27% of the new stock issue for approximately $2,446,729.

We are blessed to have some strong hands associated with this bank. They seem to have the deep pockets needed to add capital when needed. Many smaller community banks do not have this asset. From what I can find the Pollard family owns about 37% of the stock and all insiders and special interests own about 51% of the stock.

If I am going to be involved in a small community bank I would rather be in one where the insiders have made a strong committment to it, thereby creating a strong incintive to do the best job that they can. Just my opinion.