United Western details $80 million stock offering

DENVER – United Western Bancorp Inc. (Nasdaq: UWBK) will offer $80 million worth of common stock in a public offering.

The infusion will be used to support growth, maintain the regulatory capital requirements for United Western Bank and repay debt under its revolving line of credit. In a presentation describing the offering, United Western explained the amount being offered was guided by in-depth stressing of its loan portfolio; a determination of the amount of capital needed to carry its non-agency mortgage-backed securities through the down market; and keeping capital for organic growth and acquisition opportunities.

United Western operates seven branches in Colorado, including one in Loveland and one in Fort Collins. In morning trading, United Western’s stock was down 8 percent to $4.74.

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