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January 6, 2020

Idaho First Bank Secures $9.5M Capital Raise For Additional Growth

Greenville partner Ben Barnhill and Greenville associate Ricky Davis represented Idaho First Bank in a $9.5 million offering of its common stock. JWTT Inc., with lead banker Joey Warmenhoven, served as sole placement agent for the offering. JWTT Inc. is an investment bank and broker-dealer dedicated to the community banking sector.

The capital raise will support Idaho First Bank's market expansion plans and increase its legal lending limit to support loan growth opportunities throughout Southwest Idaho. "Although the bank is already well capitalized, our 2019 growth has been significant. This new equity will provide additional cushion in our capital base to support recent market expansion into Ketchum (Idaho),” said Greg Lovell, CEO and president of the Idaho-based community bank.

With an emphasis on community banks, Barnhill focuses his practice on bank regulatory, corporate securities, mergers and acquisitions, and executive compensation matters. Davis practices with the corporate, securities, and tax group, focusing in the banking and financial services industries.

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