Florida

Longtime Midwest banker Marty Adams is heading south on a rescue mission. The struggling TIB Financial Corp. in Naples, Fla., announced late Friday that Adams, former chief executive of Sky Financial Group, would join TIB to help it secure the $150 million it needs for a recapitalization.

BankAtlantic Bancorp Inc. of Fort Lauderdale, Fla., Thursday announced pricing for its $25 million rights offering. The $4.7 billion-asset company said it would sell shares to existing shareholders at $1.50 a share, a 21% discount to the stock's price on June 1, the day before the company announced the rights offering.

Three and a half years after selling Harbor Florida Bancshares Inc. at the top of the market, the company's former executives have decided it's time to buy.

BankAtlantic Bancorp Inc. of Fort Lauderdale, Fla., said it hopes to raise up to $25 million of fresh capital through a rights offering to existing shareholders.

EverBank has thrived as one of the most profitable banks in Florida by becoming a dominant player in the online banking realm. Last week, though, the Jacksonville company made a detour into brick-and-mortar banking by acquiring three failed Bank of Florida franchises, snapping up 13 branches across the state and increasing its assets by 15%, to $11 billion.

Five more banks failed Friday — including the subsidiaries of Bank of Florida Corp. — costing the government an additional $317 million.

More than two months after regulators issued what ordinarily are final warnings to Bank of Florida Corp., the company's banks have received a fresh set of marching orders.

Horizon Bancorp. Inc. in Bradenton, Fla., is hoping a last-minute private placement will keep its critically undercapitalized bank from failing.

Two already troubled community banks recorded additional first-quarter losses this week in revising their results after re-evaluating problem loans.

For months now, private-equity executives and bankers have been in opposing camps in the battle for struggling banks. But Jacksonville Bancorp Inc. in Florida showed this week that it's sometimes better to recruit a rival than fight it.

Four small banks totaling $730 million in assets were closed late Friday on a relatively light evening for the Federal Deposit Insurance Corp.

The Federal Reserve on Monday announced it has taken enforcement action against banks in Montana and Florida.

BankUnited Financial Corp. has countersued the Federal Deposit Insurance Corp. in the fallout from one of the costliest failures of the financial crisis — that of Florida's BankUnited FSB.

Though smaller companies may still bid on individual failed banks, they may have to enlarge their bids — perhaps significantly — to compete with package buyers.

The South Financial Group in Greenville, S.C., reported Tuesday a large but narrowing first-quarter loss of $85.8 million. The $12.4 billion-asset company had lost $193.8 million a year earlier.

Seacoast Banking Corp. of Florida in Stuart has released to its investors $200 million in capital it was holding in escrow because it did not place the winning bid for Riverside National Bank in Fort Pierce, Fla.

WASHINGTON — TD Bank of Wilmington, Del., purchased three separate failed banks in Florida late Friday, totaling $3.9 billion in assets, on a night that saw a total of eight bank collapses.

WASHINGTON — TD Bank of Wilmington, Del., purchased three separate failed banks in Florida late Friday, totaling $3.9 billion in assets, on a night that saw a total of eight bank collapses.

These are not easy days for community banks in Georgia and Florida, but signs of hope are springing. This week in Georgia Ameris Bancorp in Moultrie announced plans to raise nearly $74 million in fresh capital via a public offering, and Gwinnett Community Bank said it raised $5 million from members of its community.

With $250 million of capital headed its way, Seacoast Banking Corp. of Florida could make the big leap from survivor to acquirer.