Investment Banking - Consumers Bancorp Inc.

Transactions | Banking

Client: Consumers Bancorp Inc.
Industry: Banking
Transaction Type: Common Stock Offering
Role: Financial Advisor

  • Consumers Bancorp, Inc. is a 12-branch bank headquartered in Minerva, Ohio.
  • Since 2007, the Company has grown its balance sheet at an 11% compound annual growth rate, from approximately $200 million to nearly $350 million.
  • Due to increased business activity and ongoing development in the Utica Shale region, as well as continued expansion of its branch network, Consumers has experienced strong loan and deposit growth.
  • In order to support future loan growth, development of its branch network and potential acquisitions, the Company decided to seize the opportunity and pursue a rights offering to raise $10 million in fresh capital.
  • The rights offering had strong support from insiders and current shareholders, allowing those shareholders to maintain or expand their ownership levels if desired.  The structure also enabled the participation by a variety of new investors who, in the past, may not have been able to accumulate their desired significant position through normal trading.