Hyperion Bank in the News
Hyperion raises $18.3 million
Northern Liberties-based Hyperion Bank raised $18.3 million from investors, a process than began shortly after CEO Charlie Crawford took the helm of the tiny lender last year. The influx of funds includes $14.8 million from a stock offering that completed on Sept. 30 and $3.5 million from existing shareholders.
Hyperion said the new capital will enable the bank to make more commercial loans and increase its loan limit to $3 million. The bank, which opened in 2006 at 2nd & Girard streets, still has just $88 million in total assets, as of June 30. Since Crawford took over, he hired a new chief financial officer, expanded staffing in its customers services and credit departments, started a residential mortgage lending department, and upgraded mobile and online banking technology.
-Philadelphia Business Journal | Jeff Blumenthal, October 15, 2018