Xenith Bankshares plans stock offering

Xenith Bankshares Inc. plans to raise $43 million in a stock offering. Xenith, formed by the merger of Xenith Corp. of Richmond with the Suffolk-based parent of SuffolkFirst Bank, has filed documents with the Securities and Exchange Commission proposing to generate the money through a sale of new common stock.

The fresh capital would be used by its Xenith Bank subsidiary "primarily to fund organic growth of loans to customers in its target markets, for continued investment in its infrastructure and personnel and for other general purposes, which may include acquisitions." Richmond-based Xenith Bank has a branch there, another at Tysons Corner and three in Suffolk. Its current market capitalization is $33.6 million. Its shares sold in Nasdaq trading Wednesday for $5.75 each.