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A Cincinnati bank that achieved a federal designation last year for minority leadership and lending has completed part of its capital raising effort aimed at bringing in $5 million.
“We are very pleased to announce the initial closing of our additional tier 1 capital offering. The new capital will provide support for the growth that we envision for our organization,” said Robie K. Suggs, president and CEO of Warsaw Federal. “It is an exciting time for us and we’re incredibly enthusiastic about our future. As a mutual we’re taking a measured and thoughtful approach in our transition to an MDI.