Blog

REVERE BANK ANNOUNCES COMMENCEMENT OF COMMON STOCK OFFERING

Revere Bank (the “Bank”) announced today that it was commencing an offering of 1,400,000 shares of its common stock. In addition, the Bank has granted its underwriters an option to purchase up to an additional 15% of the shares sold in the offering. The Bank’s common stock is currently traded on the OTC Pink market under the symbol “REVB” and, upon consummation of the offering, the common stock is expected to be listed on the OTCQX market under the symbol “REVB.”

The Bank intends to use the net proceeds of the offering for general corporate purposes, including funding organic loan growth, purchasing investment securities, and pursuing possible strategic acquisition opportunities.

Sandler O’Neill + Partners, L.P. will serve as sole book-running manager and FIG Partners, LLC will serve as co-manager for the offering.

This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any offer or sale of these securities in any state or other jurisdiction in which such offer, solicitation, or sale of securities would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. Any offers, solicitations of offers to buy, or sales of securities may be made only by means of the final offering circular, copies of which may be obtained from Sandler O’Neill + Partners, L.P. at 1251 Avenue of the Americas, 6th Floor, New York, New York 10020, (866) 805-4128, or from FIG Partners, LLC at 1475 Peachtree Street NE, Suite 800, Atlanta, GA 30309, (404) 601-7200.

The securities are not deposits and are neither insured nor approved by the Federal Deposit Insurance Corporation or any other bank regulatory agency. The securities are being offered pursuant to an exemption from registration under the Securities Act of 1933 provided by Section 3(a)(2) of such Act.

About Revere Bank

Revere Bank is a commercial bank incorporated in and chartered by the State of Maryland.  The Bank is regulated by the Federal Deposit Insurance Corporation and the State of Maryland and its deposits are insured by the Federal Deposit Insurance Corporation. The Bank is headquartered in Rockville, Maryland and has eleven banking offices located at:

Rockville/Shady Grove      2101 Gaither Road, Suite 600
Bethesda                               7700 Old Georgetown Road, Suite 150
Columbia                              6031 University Boulevard, Suite 170
Frederick                              18 West Patrick Street
Gaithersburg                        820 West Diamond Avenue, Suite 110
Laurel                                    319 Main Street
Bethesda/Maplewood        9707 Old Georgetown Road
Rockville                               414 Hungerford Drive
Severna Park                        8529 Veterans Highway
Silver Spring                        8602 Colesville Road
Towson                                 502 Washington Avenue, Suite 103

Forward Looking Statements:

This press release and other statements made from time to time by Revere Bank contain express and implied statements relating to our future financial condition, results of operations, credit quality, corporate objectives, and other financial and business matters, which are considered forward-looking statements. These forward-looking statements are necessarily speculative and speak only as of the date made, and are subject to numerous assumptions, risks and uncertainties, all of which may change over time. Actual results could differ materially from those expected or implied by such forward-looking statements. Risks and uncertainties which could cause our actual results to differ materially and adversely from such forward-looking statements include economic conditions affecting the financial industry; changes in interest rates and shape of the yield curve; credit risk associated with our lending activities; risks relating to our market area, significant real estate collateral and the real estate market; operating, legal and regulatory risk; fiscal and monetary policy; economic, political and competitive forces affecting our business; our ability to identify and address cybersecurity risks; and that management’s analysis of these risks and factors could be incorrect, and/or that the strategies developed to address them could be unsuccessful. Any statements made that are not historical facts should be considered to be forward-looking statements. You should not place undue reliance on any forward-looking statements. We undertake no obligation to update forward-looking statements or to make any public announcement when we consider forward-looking statements to no longer be accurate, whether as a result of new information of future events, except as may be required by applicable law or regulation.

Go back to the Blog