Delmarva Bancshares Inc. (OTCPK:DLMV) announced that it will receive $10,999,999 in funding led by Castle Creek Capital Partners V, LP, a fund managed by Castle Creek Capital LLC on December 19, 2013. The company will issue common stocks, preferred stocks, and option, warrant or other right to acquire another security in the transaction. The transaction will include participation from total of 12 investors, includes participation from institutional investors. The company will issue securities pursuant to exemption provided under Regulation D. The minimum investment accepted from any investor is $32,359. Raymond James & Associates, Inc. will act as placement agent to the company and will receive $770,000 as sales commission. BuckleySandler LLP will act as legal advisor to the company. Alston & Bird LLP will act as legal advisor to Raymond James & Associates, Inc.

On January 3, 2014, Delmarva Bancshares Inc. closed the transaction.