Revere Bank raises $12.5M to fuel growth

Revere Bank has just finished raising $12.5 million to $13 million in growth capital.

The Laurel-based raised the money at $11.50 per share, or 123 percent of book value, said bank President Ken Cook. The final amount is still being calculated.

"It's very gratifying," Cook told me. "We have a good story and good trends."

Revere raised nearly $11 million two years ago at $10.75 per share and has aggressively grown since then, swelling its loans by more than $200 million to $331 million. This new…