RALEIGH, N.C., Aug. 14, 2013 (GLOBE NEWSWIRE) -- VantageSouth Bancshares, Inc. (NYSE MKT:VSB), the holding company for VantageSouth Bank, today reported that it has placed $38.05 million in subordinated notes with accredited investors.
Terry Earley, Chief Financial Officer of VantageSouth Bancshares, Inc. said, "The subordinated debt improves our liquidity and diversifies our capital base with a cost-efficient form of regulatory capital."
Sandler O'Neill & Partners, L.P. served as placement agent in connection with the placement to certain institutional investors.
Forward-looking Statements
Information in this press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Additional factors that could cause actual results to differ materially are discussed in the Company's filings with the Securities and Exchange Commission, including without limitation its Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q, and its Current Reports on Form 8-K. The forward-looking statements in this press release speak only as of the date of the press release, and the Company does not assume any obligation to update such forward-looking statements.