Jacksonville Bancorp (JAXB) in Florida has sold roughly $25.1 million of troubled assets and completed its previously announced $50 million capital raise.

The capital raise was led by CapGen Capital Group IV, which invested $5 million, the $552 million-asset Jacksonville said Monday. Other investors included directors and officers of the company. The company sold 50,000 preferred shares at $1,000 per share.

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