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The holding company for the $226 million-asset GulfShore Bank has so far pulled in $1.6 million from local investors in an offering that began on Dec. 31.
January 15
GulfShore Bancshares in Tampa, Fla., has raised $6 million by selling stock.
The holding company for the $234 million-asset GulfShore Bank said Tuesday that it would use proceeds to fund the bank's growth and fuel lending to local professionals and businesses.
Investors include existing GulfShore shareholders, other local investors, Fortress Partners Banc Ventures and an unnamed investor in Cleveland.
The capital raise is "one of only a few private raises in the country for an institution [of] our size that was not priced at distressed values, since we've been profitable for seven consecutive quarters," Joe Caballero, the company's president, said in a press release.
The Chicago firm Navigant Capital Advisors worked with GulfShore on the offering, which began in December.
Gulfshore Bank, which was created in 2007, has two branches in Tampa.
