BankFlorida Postponed, Nasdaq: BFL

Community bank with one branch in Southern Florida.

Industry: Financials

Latest Trade: ()

First Day Return:

Return from IPO:

Industry: Financials

Formerly FirstCity Bank of Commerce, BankFlorida is a state-chartered community bank based in Palm Beach Gardens, FL. We currently engage in a general commercial and personal banking business with an emphasis on serving the banking needs of small- to medium-sized businesses and individuals in our market. We currently operate out of our corporate headquarters, and in May 2018, acquired a vacant branch facility in Jupiter, FL, which we plan to open in the future as a banking office. In June 2018, we restructured our executive team and board of directors, hiring the former leadership of Atlantic Coast Financial (NASDAQ: ACFC), acquired in May 2018 for $145 million. Our new management team intends to use the proceeds of the capital raise to emulate the successful strategy they implemented at Atlantic Coast, significantly growing the bank through the hiring of select individuals with the goal of increasing loans, deposits and market presence. The Bank has traditionally focused on attracting deposits and investing those funds primarily in loans, including commercial real estate loans, consumer loans, first mortgages on owner-occupied, one- to four-family residences and home equity loans. Additionally, the Bank may invest funds in multi-family residential loans, commercial business loans, and commercial and residential construction loans. Total assets increased $8.5 million, or 9.7%, to $96.4 million at June 30, 2018, as compared to $87.8 million at December 31, 2017.
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IPO News for BankFlorida
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IPO Data
IPO File Date 10/16/2018
Offer Price
Price Range $9.50 - $10.50
Offer Shares (mm) 4.2
Deal Size ($mm) $42
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
IPO Data
IPO Date
Offer Price
Price Range $9.50 - $10.50
Offer Shares (mm) 4.2
Deal Size ($mm) $42
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
Underwriters
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Company Data
Headquarters Palm Beach Gardens, FL
Founded 2007
Employees 23
Website www.bankflorida.com