ABCB - BankFlorida Readies $65 Million U.S. IPO
Quick Take
BankFlorida (BFL) intends to raise $65 million in an IPO of its common stock, according to a preliminary offering circular.
The firm is a state-chartered community bank that provides financial services in the Palm Beach Gardens, Florida area, and has plans to expand to Jupiter in the near future.
BFL is operating in an evolving interest rate and lending environment which may complicate its expansion plans; however, changing conditions may paradoxically provide its experienced management team with greater opportunities to acquire other banks or branches from less well-managed banks.