Intervest Bancshares Corporation Announces Exercise of Over-Allotment

Intervest Bancshares Corporation

, today announced that the underwriter of its public offering of common stock, which closed on October 20, 2010, exercised a portion of its over-allotment option to purchase additional shares of the Company's common stock. The option was granted in connection with the Company's public offering of 10,600,000 shares of common stock at a public offering price of $1.95 per share. The sale of the additional shares pursuant to the over-allotment option closed today.