Florida Shores Bank in Venice said Monday that it had raised $8 million of capital after spending six months courting investors.
The $250 million-asset company sold stock to local investors at $12.50 a share, or 1.5 times its book value in June when the offering was launched. The three-year-old bank had a total risk-based capital ratio of 14.66% at Sept. 30. It said in a press release that the additional capital would allow for further growth.
Looking back at the year, this is how they impacted the financial services industry.
Banks such as TD, Wells Fargo and Bank of America drew attention this year for money-laundering issues. That's one of several top regulatory news items in 2024.
The Federal Reserve is poised to make several key decisions during the year ahead that will impact monetary policy both in the near term and for years to come.
From embedded finance to artificial intelligence to real-time processing, there are plenty of sources of competition and opportunity in the new year.
The integration of J.P. Morgan's Fusion platform with FactSet aims to give buy-side clients the same level of analytics available to the sell side.
The Treasury Department extended deadlines for businesses to file beneficial ownership information after a court lifted a nationwide injunction on the reporting requirements.
