August 20, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — Park Sterling Bank (NASDAQ: PSTB) said that it has completed a public offering of 23.1 million shares of its common stock and raised around $150 million. Keefe, Bruyette & Woods acted as lead manager and sole book runner. The bank said it will use the net proceeds from the raise for general corporate purposes, including the funding of organic growth and possible future acquisitions of other financial institutions, and its working capital needs.

North Carolina-based Park Sterling Bank provides personal banking services.

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