Florida

Shareholders took a big gamble that Atlantic Coast Financial in Florida can raise enough capital to save itself when they rejected a buyout offer. There are more funds to be had these days, but they are harder to get, experts warn.

The proposed sale of Atlantic Coast Financial in Jacksonville, Fla., did not sail with investors. Shareholders rejected Bond Street Holdings' $13.1 million, or $5-per-share, offer on Tuesday.

The $76 million-asset lender raised the sum from local investors. It began the effort in October and finished at the end of May, its financial advisor, Community Capital Advisors, announced on Monday.

Banco Sabadell in Spain has agreed to buy Lloyds Banking Group’s international private banking business in Miami.

Shareholders of OptimumBank Holdings (OPHC) have approved a reverse stock split aimed at preserving the Fort Lauderdale, Fla., company's Nasdaq listing.

Miguel Blesa, a former executive of Caja Madrid, is in Spanish prison after being accused of arranging to buy Florida's City National Bank at an inflated price.

As investor Jay Sidhu and Atlantic Coast Financial intensify their fight over the Florida company's deal to sell to Bond Street Holdings, the market has priced a higher deal value into the stock. Atlantic Coast warns that no such bump-up is coming.

The Federal Deposit Insurance Corp. is seeking to recover $48 million from officers and directors of a Florida bank that collapsed in 2010 following heavy defaults on commercial real estate loans.

A U.S. Century spokeswoman confirmed Wednesday that the $1.3 billion-asset bank's shareholders approved the sale to C1 Bank in St. Petersburg, Fla.

Three banks failed Friday – including two in Florida – and will cost the Federal Deposit Insurance Corp. an estimated $86 million. Regulators seized the $200 million-asset Excel Bank in Sedalia, Mo.; the $159 million-asset GulfSouth Private Bank in Destin, Fla.; and the $67 million-asset First East Side Savings Bank in Tamarac, Fla.

Stonegate Bank (SGBK) in Fort Lauderdale, Fla., beefed up its lending team even as it reported higher profits for the 27th consecutive quarter.

A unit of EverBank Financial (EVER) has hired a former U.S. Bank sales manager as the Jacksonville, Fla., company continues to diversify its business.

The privately held investment firm, based in Birmingham, Ala., is buying FBC Mortgage of Orlando, Fla., a unit of Florida Bank of Commerce, for undisclosed terms, the companies said Tuesday.

Bank of America (BAC) has hired more than 130 bankers in Florida as part of a lager plan to bulk up its services for small-business owners.

The Federal Reserve Board has terminated written agreements with Capital Community Bancorp. in Provo, Utah, and Coconut Grove Bank in Miami.

LAKELAND, Fla. — MidFlorida CU, which has been growing its branch network on the Gulf Coast, has agreed to acquire Indian River CU, a troubled $55 million credit union on Florida's other coast.

Strong loan growth at BankUnited (BKU) helped the Miami Lakes, Fla., company post higher second-quarter income and beat analysts' expectations.

The rapidly expanding First Republic Bank (FRC) will open a branch in the wealthy south Florida enclave of Palm Beach, its first office in the Sunshine State.

USAmeriBank of Largo, Fla., has purchased a building in Tampa, Fla., where it intends to open a new branch and staff it with 25 new hires.

Capital One Financial (COF) has settled a longstanding legal dispute with former executive John Kanas.