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Jacksonville Bancorp (JAXB) in Florida has sold roughly $25.1 million of troubled assets and completed its previously announced $50 million capital raise.
December 31 -
Jacksonville Bancorp is in the market for a new CEO at a time when it is also trying to sell more stock and conduct a reverse stock split.
June 26 -
Promontory's connections and expertise turned the consultant into a private sector regulatory proxy. But those same strengths put the firm in the crosshairs after its role in the failed foreclosure review process and controversial work for MF Global and Standard Chartered.
March 15
Jacksonville Bancorp (JAXB) in Florida has closed the sale of $5 million worth of common stock.
The $522 million-asset bank sold about 7.9 million shares to the public and 2.1 million shares to existing stockholders through a rights offering, it announced Monday. The shares were sold at 50 cents each, the same price as in a
Hovde Group was the sales agent for the $5 million raise. The bank's stock was trading at just over 50 cents a share Monday morning.
"We are very pleased with the results of the public offering, and by the support from local investors and customers of the Jacksonville Bank, as well as the institutional investment community," said Don Glisson, chairman of the board, in the news release. "The success of this offering gives us positive momentum as we continue to strengthen our capital position and execute our strategic initiatives."
The private-equity firm CapGen Capital Group is the
Jacksonville Bancorp, which has eight Florida branches, has a Tier 1 leverage ratio of 9.19% and total risk-based capital of 13.67%.
