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Northwest International Bank seeks to raise $5 million more in capital, first from existing shareholders and then from the general public.
Now 3 years old, Seattle-based Northwest International holds $7.8 million in capital, and assets totaling $73.9 million up 37 percent from a year ago.
Northwest International CEO Basant Singh, a veteran KeyBank executive who joined Northwest last November, said the bank enjoyed substantial growth during the past year - and "we want to be well capitalized to do more."
During the past 12 months, the bank's loan portfolio surged to $50 million, an increase of 68 percent.
Earnings for the first...