The offering, which concluded on June 1, drew significant interest, ultimately reaching two times oversubscription with 66 participating investors. The capital stack comprised $8.6 million in common equity, priced at $14.34 per share, and $6.1 million in preferred stock carrying a 6.50% quarterly dividend. By structuring the raise internally, Hyperion bypassed traditional acquisition-focused fundraising, instead securing leverageable Tier 1 capital tailored to its specific community-banking model.

Management turned to this unconventional financing path to sustain a rapid growth pace that saw deposits climb 23% and loan volume jump 19% year-over-year. With the bank’s annualized growth rate hitting approximately 17% through May, CEO Charlie Crawford indicated the capital was necessary to maintain disciplined underwriting standards without throttling operations. Performance Trust Capital Partners acted as strategic advisor for the transaction, which marks a significant milestone ahead of the bank’s 20th anniversary later this year.