Investment Banking - Sussex Bancorp
Transactions | Banking
Client: Sussex Bancorp
Transaction Type: Common Stock Offering
- Sussex Bancorp (Nasdaq:SBBX) (the “Company”), is the holding company for Sussex Bank, which operates through its regional offices and corporate centers in Wantage and Rockaway, New Jersey and eleven branch offices located in NJ and NY; and, for Tri-State Insurance Agency, Inc., a full service insurance agency with locations in Augusta and Oradell, New Jersey.
- The gross proceeds to the Company (including the proceeds from the exercise of the Underwriters’ 10% option) are expected to be approximately $30.0 million.
- The Company intends to use the net proceeds generated by this offering for general corporate purposes.
- For the period ending March 31, 2017 the company had total assets of $872.3 million, total net loans of $712.0 million and total deposits of $696.6 million and for the last twelve months ending March 31, 2017, generated EPS growth of 36%.
- Boenning served as co-manager in the offering.