The leaders of Reliant Bancorp have filed papers with the Securities and Exchange Commission that would let them raise up to $100 million in the future.
Brentwood-based Reliant isn’t planning to raise money at this point. If approved by regulators, its shelf registration statement would merely set the stage for it to sell shares, debt or other instruments at some point. Reliant has nearly 17 million common shares outstanding and is authorized at this point to issue up to 30 million shares.
The move comes after CEO DeVan Ard Jr. and his team earlier this year completed their purchases of the parent companies of local peers First Advantage Bank and Community Bank & Trust. Those deals — both were a mixture and cash and stock — helped grow Reliant’s asset base by about half to nearly $3 billion as of June 30.
Shares of Reliant (Ticker: RBNC) were down about 1 percent to $15.45 on Tuesday afternoon. They started the year around $22 and bottomed out this spring just below $10. The company’s market capitalization is now about $250 million.