Crescent Bancshares to raise $15m for bank acquisition in Chicago
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“The recent economic slowdown and the resulting financial crises created significant asset quality problems for many community banks in Chicagoland and across the country. The Money Center banks (such as) BOA and Citi are riddled with asset quality concerns” said Rohail Khan, an initial contributor in Crescent Bancshares. “This represents an opportunity for locally connected, locally owned community banks, to gain market share, and to differentiate themselves from the larger banks.”
Crescent bank shareholders, board of directors and the management team, will service all customers and carry a specific focus to develop products and services for the South Asian, South Eastern European and Muslim Communities.
The acquisition of the bank asset is underway. The group plans to finalize the acquisition after the end of the capital raise process.
“The acquisition will require us to raise over ten million dollars” said Mike Rossmeier, an initial contributor at Crescent Bancshares. The group hosted its first investor forum on October 18th, 2009. Over 100 accredited investors and media individuals representing targeted communities attended the event. The group has been actively entertaining accredited investors to describe the Crescent business plan. “Because we are registered in IL as a C corporation, many of our shareholders are investing via their retirement plans” said Khan. “After losing 30-40% of their net worth during the downturn, many are asking if there are better opportunities for investment” continued Rossmeier. “A well run bank, is an exceptional get rich slow scheme, said another investor in Crescent Bancshares.
“Our targeted communities represent the most coveted demographics for service providers including banks. We present a large group of well educated, affluent professionals and small business owners.” said Khan.
Crescent plans to host additional informational and accredited investor events to spread the word about Crescent Bank as well as to inform the general public about investment opportunities in the coming months.
Crescent Bancshares Corporation
5600 N River Rd Suite 800
Des Plaines, IL 60018
(847) 260-5355
www.crescentbancshares.com/
Based in Chicago, Zeus Capital Advisers is a full-service strategic advisory firm specializing in financial services and real estate. The firm offers a diverse mix of consulting services from mergers and acquisitions to de novo bank formation to capital acquisition. A global operation, Zeus Capital Advisers utilizes an extensive network of relationships to connect clients and investors throughout the world.
The firm is also the only organization in the U.S. providing end-to-end Islamic financial solutions, as they develop, consult and manage businesses offering Shariah-compliant alternatives to traditional investment vehicles.
Crescent Bancshares Corporation
5600 N River Rd Suite 800
Des Plaines, IL 60018
(847) 260-5355
www.crescentbancshares.com/
Press Contact:
Siwen Yang
5600 N River Rd Suite 800
Des Plaines, IL 60018
(847) 260-5355
siwen@zeuscapitaladvisers.com