AB&T Financial Corporation Completes $7.8 Million Private Placement and Transaction with Strategic Investor

GASTONIA, N.C. (BUSINESS WIRE) AB&T Financial Corporation (“AB&T” or the “Company”) (OTC Pink: ABTO), the parent company of Alliance Bank & Trust Company (the “Bank”), today reported the completion of the private placement of $7.8 million of common equity at a price of $0.40 per share to accredited investors. The Company intends to use the proceeds to bolster the capital position of the Bank. Also on May 29, 2015, AB&T completed a transaction with P. Byron DeFoor of Ooltewah, Tennessee. Mr. DeFoor is a strategic investor with nearly thirty years of experience in a variety of businesses with particular expertise in the development of commercial real estate and residential communities. Mr. DeFoor is also a majority shareholder of Ooltewah, Tenn.-based Community Trust & Banking Company. In the transaction, Mr. DeFoor directly invested $3.5 million and also purchased all of the Company’s series A preferred shares from private investors. The Company originally issued the pre
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