Endeavor Bancorp Announces Completion of $10.0 Million Private Placement of Common Shares

Rhea-AI Summary

Endeavor Bancorp (OTCQX: EDVR) completed a $10.0 million private placement of common shares on January 30, 2026, issuing 666,665 shares at $15.00 per share.

The offering was increased from an $8.0 million target due to oversubscription. Management and board invested a combined $1,218,000 including $419,000 from option exercises. Proceeds are expected to support organic and strategic growth in Southern California banking operations.

Positive

• Raised $10.0M via private placement to fund growth
• Issued 666,665 shares at $15.00 per share
• Offering increased from $8.0M to $10.0M due to oversubscription
• Insiders contributed $1,218,000 (management/board investment plus option exercises)

Negative

• Private placement may dilute existing shareholders because new common shares were issued

SAN DIEGO, Jan. 30, 2026 (GLOBE NEWSWIRE) -- Endeavor Bancorp (OTCQX: EDVR) (the “Company” or “Bancorp”), the holding company for Endeavor Bank (the “Bank”), today announced that it has completed a private placement of $10.0 million of the Company’s common shares to certain accredited investors. The Company issued 666,665 shares of common stock at a purchase price of $15.00 per share in connection with the private placement transaction. The Company expects to use the proceeds from the capital raise to support organic and strategic growth opportunities.

The offering was initially targeted at $8 million, but high demand and an oversubscription enabled the Company to increase the offering to $10 million. The transaction was conducted internally with accredited investors without the use of an external investment banker or broker to raise the capital.

Management and board members participated in the offering with a $799,000 investment and contributed an additional $419,000 capital through stock option exercises.

“The success of this capital raise is a reflection of the strength of our bank and the dedication of our Board of Directors, management and team members as we expand our community bank throughout Southern California, providing our style of consultative banking to businesses who need us,” said Dan Yates, CEO.

“This additional capital will support our strategy and growth plans as we continue to focus on supporting the business customers we serve and on building long-term value for our shareholders,” said Steve Sefton, President. “Our financial modeling shows we can leverage this new capital multiple times over as we scale our team, with the intent of driving significantly stronger returns over the next several years.”

Breakwater Law Group provided legal counsel to Endeavor Bancorp.

About Endeavor Bancorp

Endeavor Bancorp, the holding company for Endeavor Bank, is primarily owned and operated by Southern Californians for Southern California businesses and their owners. The bank’s focus is local: local decision-making, local board, local founders, local owners, and relationships with local clients in Southern California.

Headquartered in downtown San Diego in the Symphony Towers building, the Bank also operates a loan production and executive administration office in Carlsbad, as well as a branch office in La Mesa, and a loan production office in Pasadena. In addition, the Bank maintains production teams throughout Southern California. Endeavor Bank provides traditional business banking services across a broad spectrum of industries and specialties. Unique to the bank is its consultative banking approach that partners our business clients with Endeavor Bank’s senior management. Together, we build strategies and provide resources that solve problems, plan for the future, and help clients’ efforts to grow revenues and profits. Endeavor Bancorp trades on the OTCQX® Best Market under the symbol “EDVR.” Visit www.endeavor.bank for more information.

Endeavor Bank is rated by Bauer Financial as Five-Star "Superior" for strong financial performance, the top rating given by the independent bank rating firm. DepositAccounts.com awarded Endeavor Bank an A rating.

EDVR Shareholders

With many of our shareholders transferring their EDVR shares to their brokerage companies, along with ongoing trading taking place, Bancorp may not have the most current shareholder contact information. If you are an EDVR shareholder and would like to receive information via a more timely method, please complete the Shareholder Communication Preference Form on our website: https://www.bankendeavor.com/investor-relations so we can keep you updated on EDVR news, and invite you to various shareholder networking events throughout the year. 

Forward-Looking Statements

This press release includes “forward-looking statements,” as such term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on the current beliefs of the Company’s directors and executive officers (collectively, “Management”), as well as assumptions made by and information currently available to the Company’s Management. All statements regarding the Company’s business strategy and plans and objectives of Management of the Company for future operations, are forward-looking statements. When used in this press release, the words “anticipate,” “believe,” “estimate,” “expect” and “intend” and words or phrases of similar meaning, as they relate to the Company or the Company’s Management, are intended to identify forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. Important factors that could cause actual results to differ materially from the Company’s expectations (“cautionary statements”) are loan losses, rapid and unanticipated deposit withdrawals, unavailability of sources of liquidity, additional regulatory requirements that may be imposed on community banks or banks generally, changes in interest rates, loss of key personnel, lower lending limits and capital than competitors, regulatory restrictions and oversight of the Company, the secure and effective implementation of technology, risks related to the local and national economy, the effect on customers, collateral value and property insurance markets of the recent wildfires in the Los Angeles metropolitan area and similar events in the future, changes in real estate values, the Company’s implementation of its business plans and management of growth, loan performance, interest rates, and regulatory matters, the effects of trade, monetary and fiscal policies, inflation, and changes in accounting policies and practices. Based upon changing conditions, if any one or more of these risks or uncertainties materialize, or if any underlying assumptions prove incorrect, actual results may vary materially from those described as anticipated, believed, estimated, expected, or intended. The Company does not intend to update these forward-looking statements.

Endeavor Bancorp Contact Information:
(858) 230.5185
Dan Yates, CEO
dyates@bankendeavor.com

(858) 230.4243
Steve Sefton, President
ssefton@bankendeavor.com

FAQ

How much capital did Endeavor Bancorp (EDVR) raise in the January 30, 2026 private placement?

Endeavor Bancorp raised $10.0 million in the private placement. According to the company, the sale issued 666,665 shares at $15.00 per share and exceeded the original $8.0 million target due to oversubscription.

How many shares did EDVR issue and at what price in the private placement?

EDVR issued 666,665 common shares at $15.00 per share. According to the company, the issuance was completed with accredited investors and increased from an $8.0M target to $10.0M due to high demand.

Did Endeavor Bancorp insiders participate in the EDVR private placement and how much did they invest?

Yes, insiders invested a combined $1,218,000 in the transaction. According to the company, management and board members invested $799,000 and contributed $419,000 through stock option exercises.

What will Endeavor Bancorp use the $10.0M raised from the EDVR private placement for?

The company expects to use the proceeds to support organic and strategic growth opportunities. According to the company, funds will support scaling the bank’s Southern California business and related growth plans.

Was an investment banker used for the EDVR private placement completed January 30, 2026?

No external investment banker or broker was used; the transaction was conducted internally. According to the company, accredited investors were solicited directly for the private placement.