Capital Bank in Florida Approves $50M Repurchase Program

By Chris Cumming February 06, 2013, 9:28 a.m. EST 1 Min Read

Community banking

Capital Bank in Fla. Boosts 4Q Profit Despite M&A Charges

Capital Bank Financial (CBF) of Coral Gables, Fla., marked its first full quarter as a public company with an increase in profits that fell short of expectations.

By Chris Cumming

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M&A

Two Bank IPOs Price Lower Than Expected

Capital Bank Financial and National Bank Holdings priced their initial public offerings below the ranges they gave last week. Other banking companies have struggled in the IPO market this year.

By Jackie Stewart

September 20

Capital Bank Financial (CBF) in Coral Gables, Fla. could repurchase up to $50 million of its common stock.

The $7.3 billion-asset company said late Tuesday that its board had authorized the repurchases, which could take place through open-market or through private transactions.

Last month, Capital reported quarterly earnings that topped Wall Street's expectations despite charges tied to the integration of Southern Community, a North Carolina bank that the company bought in November. Capital Bank was well capitalized at Dec. 31, with a Tier 1 leverage ratio of 11.67% and a total risk-based capital ratio of 18.28%, according to the Federal Deposit Insurance Corporation.

Capital raised about $179 million through an initial public offering in September, selling shares for $18 each. It had hoped to sell those shares for $21 to $23 each.

Chris Cumming