GulfShore Bancshares in Tampa has started the year by raising fresh capital.

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. In a Securities and Exchange Commission filing the company said it is looking to raise a maximum of $25 million, though Chief Executive Joe Caballero told the Tampa Bay Business Journal that he expects the offering to net between $5 million and $10 million.

The Chicago firm Navigant Capital Advisors is advising the bank in its capital-raising effort, according to Gulfshore’s SEC filing. 

Established in 2007, Gulfshore Bank has two branches in Tampa.

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