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Community Bank of Manatee has received an additional $4.7 million in capital, according to a company release.
The latest total will be added to the $15 million on which the bank closed Dec. 3, 2009, the release said, raising total new capital to $19.7 million since the beginning of that month.
“Loan demand from small to medium sized businesses and from individuals looking to purchase and refinance their homes is growing,” said William H. Sedgeman, Jr., chairman and chief executive officer at Community, “and we want to be prepared to meet this demand.”
Earlier this week, Community Bank generated buzz about its property sales operations by offering free iPads to property buyers and their real estate agents.
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