COLEBROOK, N.H., Nov. 23, 2016 /PRNewswire/ -- First Colebrook Bancorp, Inc. is pleased to report that its secondary stock offering has been fully subscribed and 250,000 new shares of common stock have been issued.
The proceeds of the offering will be used as specified in the offering circular, including to redeem the remaining preferred stock that was issued under the Small Business Lending Fund (SBLF) and for general corporate purposes including providing a source of capital for the company's subsidiary, Granite Bank. First Colebrook Bancorp, Inc. shares are quoted on the OTCQX U.S. market under the symbol FCNH.
Founded in 1889, Granite Bank is a New Hampshire-owned community bank, operating from offices in Amherst, Colebrook, Concord, and Portsmouth, New Hampshire. Serving the banking needs of individuals and small businesses across the state for 127 years, the bank is an SBA Preferred Lender and has received the New Hampshire SBA's Outstanding Partner Award for consistent and sustained annual growth in SBA loans.
SOURCE First Colebrook Bancorp, Inc.