Commerce Home Mortgage Closes Follow-On Preferred Equity Offering


Commerce Home Mortgage, LLC (“Commerce”) – one of America’s largest Community Development Financial Institutions (“CDFI”) – announced today the pricing and closing of a private placement (the “Offering”) of $31.5 million of cumulative, perpetual preferred equity units (the “Preferred Equity Units”). The Offering brings Commerce’s outstanding Preferred Equity Units to $81.5 million. Investors in the Preferred Equity Units include 18 socially responsible banks seeking to expand access to capital to low-income borrowers and communities throughout their market service areas.

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