The bank holding company, which gained a footprint in South Carolina following its acquisition of a Spartanburg-based bank in 2010, has launched an initial public offering of 11.4 million shares priced at $21 to $23 each.
Published Sept. 10, 2012
Capital Bank Financial Corp. has launched an initial public offering of 11.4 million shares priced at $21 to $23 each.
The North Carolina-based holding company, formerly North American Financial Holdings, was founded in 2009 by former Bank of America executives who raised $900 million to acquire failed banks. Capital Bank acquired Spartanburg-based First National Bank of the South in 2010 and now has a footprint across the state.
The offering seeks to raise between $240 million and $262 million. Some of the proceeds would benefit financers who first invested in the company, as half of the shares being offered are from existing shareholders.
Capital Bank applied to list its common stock on The Nasdaq Global Select Market under the symbol "CBF."
In addition to First National Bank of the South, Capital Bank Financial has previously acquired or invested in MetroBank, Turnberry Bank, TIB Financial Corp., Capital Bank Corp. and Green Bankshares Inc.
Capital Bank has approximately $6.3 billion in assets and 143 banking offices in Florida, North Carolina, South Carolina, Tennessee and Virginia.