Oak Ridge Financial Completes Capital Offering For Northfield Bancshares

MINNEAPOLIS, Aug. 27, 2012 /PRNewswire/ -- The Oak Ridge Financial Services Group, Inc. (Oak Ridge) announced the completion of the common stock offering for Northfield Bancshares, Inc., raising the maximum capital of $3,762,500. Northfield Bancshares is the holding company for Community Resource Bank, Northfield, Minn. With the challenges that community banks have faced following the downturn in the real estate market, Oak Ridge's successful offering demonstrates both the value the firm provides to its clients as well as outstanding investor community support for the leadership of Community Resource Bank.

"After completing due diligence on investment banking firms, we felt Oak Ridge was the right investment banking firm to execute our offering," said Community Resource Bank Chief Executive Don Kuehnast. "We know the importance of our bank to the communities we serve and were very pleased with Oak Ridge's execution, allowing us to increase our capital, which will ultimately provide additional resources to our customers," Kuehnast added.

"This was another great opportunity for Oak Ridge to help a community bank achieve its strategic goals," said Oak Ridge Managing Director Craig Mueller, one of the investment banking professionals on the project. "We believe the market will continue to support banks that are fundamentally sound and present investors with good investment return opportunities if structured and priced correctly," he added.

Community Resource Bank has served its customers for more than 130 years with a team of talented and knowledgeable bankers who know their customers and their needs. Community Resource Bank offers diversified financial services, not just banking, and assists its customers with all of their financial needs—from investing to loans.

Throughout the past 12 months, Oak Ridge has helped raise capital for two other banks as well. In March 2012, Oak Ridge advised Metro North Bancshares, a bank holding company for The Bank of Elk River, on a capital raise of $4,500,000 of common stock. In late 2011, Oak Ridge closed on a $10,000,000 capital raise of subordinated notes for the Minnetonka-based Minnwest Corporation, a holding company for Minnwest Banks.

All three of these capital transactions successfully realized the maximum allowable capital approved by each of the companies' boards. This capital provides the necessary resources to execute on their respective strategic plans.

The Oak Ridge Financial Services Group, Inc. (www.oakridgefinancial.com) has been creating, managing and protecting wealth for its clients since 1977. With its Financial Institution Group, Oak Ridge is a Twin Cities-based investment banking firm specializing in community banks. Oak Ridge has grown to be a diversified, full-service firm that has built a successful reputation for keeping pace with the ever-changing needs of its clients. Oak Ridge is a member of FINRA and SPIC.

SOURCE Oak Ridge Financial Services Group, Inc.