Twin Cedars Bank Announces $5,360,000 Series B Capital Raise

For immediate release: Des Moines, Iowa – July 1, 2024 – Twin Cedars Bank is pleased to announce the successful completion of a $5,360,000 Series B capital raise. This round of funding will support the bank’s strategic growth initiatives. The capital raise was led by Chairman Rudy Fors with participation from new and existing investors. The capital raise follows a successful Series A capital raise which raised $9,000,000.

"We are thrilled to have secured this funding, which will provide us with ample dry powder to support our growth initiatives and continue to build out our mission and vision," said Rudy Fors, Chairman, President, and CEO of Twin Cedars Bank. "This capital will allow us to support our expansion into the Greater Des Moines Metropolitan area while maintaining our well-capitalized financial position, ensuring that we can continue to operate effectively even during times of financial stress."

The capital raise came during a time when the industry had to navigate a complex and often adverse environment, demonstrating the confidence investors have in the future and management of Twin Cedars Bank. "We are excited about the opportunities ahead and are committed to leveraging this capital to build a stronger, more innovative bank," added Fors. "Our focus remains on providing superior financial services and creating long-term value for our customers, employees, and shareholders."

About Twin Cedars Bank:

Twin Cedars Bank's roots trace back to 1892 in Bussey, IA, and it is a wholly-owned subsidiary of Twin Cedars Bancorp, Inc., with $90 million in total assets and $140 million in assets under management. The Bank serves Iowa while operating branches in Des Moines, Bussey, Lovilia, and Oskaloosa, Iowa, along with having a digital presence in over 26 states. Twin Cedars Bank offers a sophisticated suite of financial products and services for businesses and consumers. In addition to banking products, Twin Cedars Bank provides efficiency consulting, merger & acquisition guidance, government guarantee programs, and much more.

For more information, visit our website at www.twincedars.bank. Member FDIC.

For More Information:

Media Contact:

Name: Rudy Fors, Chairman, President & CEO

Phone: 515.344.2000

Email: Rudy@twincedars.bank