Gibraltar Private Bank & Trust has completed a USD37m private capital raise from accredited investors who mirror Gibraltar Private’s target clients.
“Gibraltar Private’s ability to raise capital in this economic environment is a direct result of our proven, client-centric business model and strong reputation. Our Shareholders are among the most respected individuals and families in the markets we serve and many are existing clients who want to be financial partners in our continued success,” says Steven Hayworth, founder, chairman of the board and chief executive officer of Gibraltar Private.
“Strong capital levels are an important measure of a bank’s ability to withstand challenges during difficult times and also provide the foundation for growth as economic conditions improve. We are well poised to take maximum advantage of today’s improving environment.”
At the end of the first quarter, Gibraltar Private remains well-capitalised by federal standards with a core capital ratio of 8.89 per cent compared to the regulatory minimum of 5.00 per cent, and a total risk-based capital ratio of 13.43 per cent compared to the regulatory minimum of 10.00 per cent.
Gibraltar Private is an integrated private banking and wealth management company dedicated to enhancing the wealth and wellbeing of its clients and their families. Gibraltar Private offers residential and commercial lending, private banking and wealth management services to professionals, corporate executives, entrepreneurs, affluent retirees, and select businesses.