Congressional Bancshares, Inc. Announces Private Placement of $345 Million of Common Equity Capital

April 15, 2021

Chevy Chase, Md. — Congressional Bancshares, Inc. (“Congressional”), parent company of Congressional Bank, announced today that it has successfully closed a $345 million private placement of its common stock. The investors in the private placement included certain affiliates of Centerbridge Partners L.P., Gallatin Point Capital LLC, Bayview Asset Management LLC, and funds and accounts managed by BlackRock, Inc. Representatives of each of these firms will join the Board of Congressional as will Donald Kohn, former Vice Chairman of the Board of Governors of the Federal Reserve System.

“We expect that this capital raise will enable up to $10 Billion of new loan originations across our market leading Healthcare, Lender and Leveraged Finance businesses and our recently launched Sustainable Finance business. We look forward to serving our customers with broader loan capabilities, focused financial solutions and an enhanced digital banking experience,” said Don Cole, Chief Executive Officer of Congressional Bank.

“Congressional is a dynamic institution poised for growth as a bank for a changing world. In the last month, we have closed on this $345 Million capital raise, launched our Sustainable Finance Division, entered into a $1.5 Billion solar loan purchase agreement with Solar Mosaic, Inc., the leading financing platform for U.S. residential solar and energy-efficient home improvement projects, and implemented a company-wide Responsible Investment and ESG policy,” added Congressional Bank’s Executive Chairman John Delaney.

The common shares sold in the private placement have not been registered under the Securities Act of 1933 or the securities laws of any other state or other jurisdiction and were issued pursuant to exemptions from registration.

Wells Fargo Securities LLC served as the exclusive financial advisor for the private placement. Arent Fox LLP served as legal counsel to Congressional.

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