Simpson Thacher represented investment funds managed by Stone Point Capital, as co-lead investor, in connection with the capital raise by Parkway Bancorp, Inc., the holding company for Parkway Bank. The capital raise generated nearly $350 million in gross proceeds, the majority of which were used to complete a private tender offer and repurchase shares from existing stockholders.
Parkway Bank is a Chicago-based commercial bank serving businesses, consumers and communities throughout the Chicago metropolitan area. Through its network of banking centers across Chicagoland, Parkway provides commercial banking, commercial real estate lending, treasury management, consumer banking and wealth management services through a relationship-focused approach.
The Simpson Thacher team included Sven Mickisch, Brian Christiansen, Louis Argentieri, Collin Janus and Kayla Sinoimeri (Financial Institutions); David Rubinsky, Jamin Koslowe, Daniella Villatoro and Hazel Yang (Executive Compensation and Employee Benefits); and Alec Jarvis and Adriana De Bartolo (Tax).