Bank / Credit Union

CFG Bank gains $125M investment

January 4, 2024

Capital Funding Bancorp Inc., the holding company for CFG Bank based in Baltimore, gained a $125 million investment form J.C. Flowers & Co. LLC, a private investment firm. As part of this investment, Louis Vachon, operating partner of J.C. Flowers, and Tom Harding, managing director, will join the board of directors at CFG Bancorp and CFG Bank, according to a press release.

The bank has more than $5 billion in assets.

"We are proud to support the growth of CFG Bank, a leader in both the consumer deposit banking market of Baltimore, my hometown, and nationwide in the market for healthcare and multifamily bridge lending," Harding said in the release. "We are thrilled to collaborate closely with Jack Dwyer (founder of CFG Bank) to help CFG Bank's management team take advantage of the many growth opportunities in the market today. We believe J.C. Flowers' deep experience in financial services will help CFG Bank enhance the services it provides its customers and clients while maintaining the creativity and nimbleness for which the bank is already well-known."