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Centric Financial Corporation Completes $21 Million Common Stock Offering with Keefe, Bruyette & Woods, A Stifel Company

Harrisburg, PA (May 29, 2018) – Centric Financial Corporation, Inc. (OTCPink: CFCX) (“Centric”), the holding company for Centric Bank, today announced the closing of a private placement of common stock totaling approximately $21 million. The Company issued 2,275,000 shares of common stock at a price of $9.25 per share (or 132% of pro forma tangible book value). The shares were offered on a best-efforts basis through Keefe, Bruyette & Woods, A Stifel Company (“KBW”), as placement agent, in accordance with a Placement Agent Agreement between Centric Financial Corporation and KBW. Charles J. Ferry, Esquire, of Stevens & Lee represented Centric. Luse Gorman, PC served as legal counsel for KBW.

“The success of this capital raise reflects the strength of our franchise, management, and our Centric team. We have consistently demonstrated the ability to execute our strategic plan and achieve our goals, and we were pleased to add a number of institutional and new retail investors as shareholders. Partnering with KBW on this successful common stock offering provides us the resources to continue to meet the entrepreneurial and expansion demands of our small business owners,” says Patricia (Patti) A. Husic, president and CEO of Centric Bank.

“The capital raised will be used to support our organic growth, make system-wide technological and cybersecurity advancements, and meet additional corporate commitments. This raise will increase our tangible common equity to assets ratio from 7.01% to 9.92% as of March 31, 2018,” says Husic. “This exciting development reinforces Centric Bank’s mission of financing new frontiers for the job creators in our local markets.”

KBW, A Stifel Company, was named in Institutional Investor’s 2017 America’s Top Corporate Access Providers. The firm was recognized as number 1 in mid-cap banks, number 3 in large-cap banks, and number 3 in consumer finance.

“KBW was honored to have the opportunity to work with Centric Bank on their capital raise. We know this capital will provide them the opportunity to continue to grow and serve their communities,” says Lisa J. Schultz, co-head of Capital Markets at KBW.
About Centric Financial Corporation and Centric Bank

A three-time Best Places to Work and a Top 50 Fastest-Growing Companies for five years, Centric Bank is headquartered in south central Pennsylvania with assets of over $611 million and remains the leader in organic loan growth in central Pennsylvania. A locally owned, locally loaned community bank, Centric Bank provides highly competitive and pro-growth financial services to businesses, professionals, individuals, families, and the health care industry. Centric Bank ranks #110 in SBA 7(a) loan volume in the United States as well as #3 in approved SBA 7(a) loans in the Commonwealth of Pennsylvania.

Founded in 2007, Pennsylvania-based Centric Bank has financial centers located in Harrisburg, Hershey, Mechanicsburg, and Camp Hill, loan production offices in Lancaster and suburban Philadelphia, and an Operations and Executive Office campus in Hampden Township, Cumberland County. To learn more about Centric Bank, call 717.657.7727 or visit

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About Keefe, Bruyette & Woods

KBW (Keefe, Bruyette & Woods, Inc., operating in the U.S., and Stifel Nicolaus Europe Limited, also trading as Keefe, Bruyette & Woods Europe, operating in Europe) is a Stifel company. Over the years, KBW has established itself as a leading independent authority in the banking, insurance, brokerage, asset management, mortgage banking, and specialty finance sectors. Founded in 1962, the firm maintains industry‐leading positions in the areas of research, corporate finance, mergers and acquisitions, as well as sales and trading in equities securities of financial services companies.

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