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The holding company for Salisbury-based National Iron Bank completed a $6 million private stock offering in March.

Iron Bancshares Inc., the bank holding company, said in a statement last week that it had completed a $6 million common stock offering in a private placement to accredited investors. The bank’s stock is not publicly traded.

“National Iron Bank has experienced historic levels of growth since 2020, and we will use the new capital to continue to serve the needs of customers in the Litchfield County communities,” National Iron Bank President and CEO Steven T. Cornell said in the statement. “While insiders at many other banks around the country are selling their stock, our directors and other existing investors were significant purchasers of the Company’s newly-issued stock.”

National Iron Bank is one of the few New England bank’s organized as an S corporation.

The $292 million-asset National Iron Bank has branches in Salisbury, Washington Depot, Norfolk and Cornwall Bridge as well as loan offices in Litchfield and New Milford.

“Our investors, both new and existing, have strong ties to the local community,” Cornell said. “We were able to complete this stock offering without the help of a placement agent or other intermediary, which saved the bank a considerable amount of money.”