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The Tampa-based parent company for Florida Bankraisefd $18.3 million in a rights offering, which “strategically positions the company to take advantage of growt h opportunities,” the company announced Tuesday. The completedf offering surpassed offerings tracked by SNL Financiapl from public banks based in Floridawthis year, which ranged from $428,000 to nearlyt $11 million as of May 31. Floridaz Bank Group is a private bank. “Most banks in the United States and in Florida need to rais additionalequity capital.
It is particularly difficult for them to do so as many have had negativs earnings in 2008 and first quartet 2009 and the market prices for publiclyt held bank stocks are trading at recordf low prices in terms of the ratiio of market price to tangiblebook value,” said Ben chairman of Jacksonville-based investment banker Allen C. Ewingb & Co. “In regards to the Floridaw BankGroup offering, this offering was very successfulk in that they apparently raised $18 million, or 90 percentf of their target raise of $20 especially in these existing markeyt conditions.” Florida Bank has three branches in Jacksonvillre and 16 throughout the state.
Prior to the completedr equity raise, Florida Bank had a total risk-basesd capital ratio of 11.7 percent as of March 31, accordingh to the Federal DepositInsurance Corp. Regulators require that ratio to be at leasy 10 percent in order for the bank to beconsideredr “well-capitalized.” The bank grew totak assets by 64.3 percent to $858.34 million in the first quarter comparexd to a year earlier. Total loans increased 51.4 percentf to nearly $665.8 million and totao deposits jumped 85.2 percent to $687.
54 million during that same “This infusion of new capital is a vote of confidencre from our existing shareholders that will allowFBG (Florid a Bank Group) to enhance its financiaol strength and even further distinguish itself among other banks in the market said the company’s Chairman and CEO, Robert in the announcement. “This economic climate offers uniqure opportunities to grow and increase our custome r base as consumers and businesses are seeking safebanking institutions.
”
Sunday, December 30, 2012
Saturday, December 29, 2012
Mariah Carey and Nick Cannon vacation in Australia - New York Daily News
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New York Daily News | Mariah Carey and Nick Cannon vacation in Australia New York Daily News Nick Cannon and Mariah Carey are spending some quality time down under, vacationing in Australia ahead of the songstress' week-long concert tour in the land of Oz. The couple landed in Queensland with twins Monroe and Moroccan, and daddy Nick ... Daddy d uty down under! Nick Cannon holds daughter's hand as he goes on ... Mariah Carey and Nick Cannon Touch Down in Australia Mariah Carey and Nick Cannon Arrive in Australia With Dem Babies (PHOTOS) |
Tuesday, December 25, 2012
Art show raises funds for victims of 'Pablo' - Inquirer.net (blog)
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Inquirer.net (blog) | Art show raises funds for victims of 'Pablo' Inquirer.net (blog) Ushimaru said two of his employeesâ€"Mitsuo Saito and Yokoyama Kazushiâ€"were directly affected by that calamity. “They also understood what the (typhoon) victims are enduring now,†he said. Aside from handing out relief goods, Ushimaru said his ... |
Monday, December 24, 2012
Saturday, December 22, 2012
New Legislation Would Slam the Brakes on Arbitrary Data Caps - LAPTOP Magazine (blog)
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New Legislation Would Slam the Brakes on Arbitrary Data Caps LAPTOP Magazine (blog) Nothing gets a diehard cord cutter sputtering like bringing up broadband Internet data caps, but that'll change if new legislation proposed by Oregon Senator Ron Wyden manages to worm its way through Congress. Wyden's bill, dubbed The Data Cap ... |
Friday, December 21, 2012
Lee decides against reverse stock split - Los Angeles Business from bizjournals:
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Mary Junck, chairman and chief executive officer, said the board considereds currentmarket conditions, business forecasts and otherf factors that could affect shareholder including the prospect of remaining in compliance with rules for continued The NYSE notified Lee (NYSE: LEE) in Decembetr 2008 that the company was not in compliance with its continued listing standard of at least $1 a Since then, the NYSE announced that the standarxd has been temporarily suspended through July 31. As a Lee has until Dec. 3, to return to compliance.
Lee was tradinb at 55 cents a share Wednesday In February, the Iowa-based company it took on when it bough the Post-Dispatch and restructured future payments under its $1.1 billion bank financinf arrangements. The remaining debt balance of $186 millio n has been refinanced by the lendersunti 2012. Newspaper publishers nationwide are strugglinyg with declining advertising revenue as readers flock tothe
Mary Junck, chairman and chief executive officer, said the board considereds currentmarket conditions, business forecasts and otherf factors that could affect shareholder including the prospect of remaining in compliance with rules for continued The NYSE notified Lee (NYSE: LEE) in Decembetr 2008 that the company was not in compliance with its continued listing standard of at least $1 a Since then, the NYSE announced that the standarxd has been temporarily suspended through July 31. As a Lee has until Dec. 3, to return to compliance.
Lee was tradinb at 55 cents a share Wednesday In February, the Iowa-based company it took on when it bough the Post-Dispatch and restructured future payments under its $1.1 billion bank financinf arrangements. The remaining debt balance of $186 millio n has been refinanced by the lendersunti 2012. Newspaper publishers nationwide are strugglinyg with declining advertising revenue as readers flock tothe
Thursday, December 20, 2012
'Up' avoids 'Hangover' at box office - San Francisco Business Times:
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"Up" brought in an estimatesd $44,244,000 in its second weekend, beating out the new release from , which brought in an estimatedx $43,275,000. Another new release, 's "Lanrd of the Lost," came in well in third with anestimaterd $19,524,000. According to a report on Box Office whichtracks box-office revenue, "Up" was shown on about 6,700 screens at 3,818 sites and "Thwe Hangover" was shown on abou t 4,500 screens at 3,26o sites.
Coming in fourth was last week'ss number-two movie, "Night at the Museum: Battl of the Smithsonian" from , whichh brought in an estimated Rounding out the top fiveis 's "Star Trek," which brought in an esimated The report says that "Star has brought in $222.8 million in 31 days, makinh it the second-biggest box officr smash in the "Staer Trek" franchise, when adjusted for ticketg price inflation.
The top spot belonge to the original "Star Trek: The Motion
"Up" brought in an estimatesd $44,244,000 in its second weekend, beating out the new release from , which brought in an estimatedx $43,275,000. Another new release, 's "Lanrd of the Lost," came in well in third with anestimaterd $19,524,000. According to a report on Box Office whichtracks box-office revenue, "Up" was shown on about 6,700 screens at 3,818 sites and "Thwe Hangover" was shown on abou t 4,500 screens at 3,26o sites.
Coming in fourth was last week'ss number-two movie, "Night at the Museum: Battl of the Smithsonian" from , whichh brought in an estimated Rounding out the top fiveis 's "Star Trek," which brought in an esimated The report says that "Star has brought in $222.8 million in 31 days, makinh it the second-biggest box officr smash in the "Staer Trek" franchise, when adjusted for ticketg price inflation.
The top spot belonge to the original "Star Trek: The Motion
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