Bank Of Florida Corporation Postpones Marketing of Public Offering
19 Noviembre 2009 - 3:01PM
Business Wire
Bank of Florida Corp. (Nasdaq:BOFL), a $1.5 billion-asset
multi-bank holding company based in Naples, Florida, announced
today that as a result of current market conditions, the Company
has postponed the marketing of its public offering. The Company’s
offering remains in registration with the Securities and Exchange
Commission.
Chief Executive Officer and President Michael L. McMullan stated
that “recent negative industry announcements, including unexpected
third quarter losses reported by Florida-based bank holding
companies that raised capital in the third quarter, has adversely
impacted the capital raising environment. Although we had some
positive discussions last week, it appears that public investors
are back on the sidelines for the very near future.” Mr. McMullan
added “we weren’t surprised by the comments we received about bank
stocks last week, however, a public offering was an avenue we were
encouraged to explore. While we have postponed marketing our
offering, we will continue to monitor the public equity markets.
Fortunately, we have also been working on other capital strategies
for some time now and we will refocus our primary attention to
those options.”
Bank of Florida Corp., incorporated in September 1998, is one of
the six largest publicly traded commercial banks headquartered in
Florida.
BANK OF FLORIDA
CORPORATION
Bank of Florida Corp. (Nasdaq: BOFL), is a $1.5 billion-asset
multi-bank holding Company located in Naples, Florida. Bank of
Florida Corporation is the parent company for Bank of Florida –
Southwest in Collier and Lee Counties; Bank of Florida – Southeast
in Broward, Miami-Dade and Palm Beach Counties; Bank of Florida –
Tampa Bay in Hillsborough and Pinellas Counties; and Bank of
Florida Trust Company, collectively referred to as the “Company.”
Investor information may be found on the Company’s website,
http://www.bankofflorida.com, by clicking on “Investor Relations.”
To receive an email alert of all Company press releases, SEC
filings, and events, select the “Email Notification” section.
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995: Certain statements in this press release
may contain “forward-looking statements” within the meaning of the
Private Securities Litigation Reform Act of 1995, which statements
generally can be identified by the use of forward-looking
terminology, such as “may,” “will,” “expect,” “estimate,”
“anticipate,” “believe,” “target,” “plan,” “project,” or “continue”
or the negatives thereof or other variations thereon or similar
terminology, and are made on the basis of management’s plans and
current analyses of Bank of Florida Corporation, its business and
the industry as a whole. These forward-looking statements are
subject to risks and uncertainties, including, but not limited to,
economic conditions, competition, interest rate sensitivity and
exposure to regulatory and legislative changes. The above factors,
in some cases, have affected, and in the future could affect Bank
of Florida Corporation financial performance and could cause actual
results for fiscal 2009 and beyond to differ materially from those
expressed or implied in such forward-looking statements. Bank of
Florida Corporation does not undertake to publicly update or revise
its forward-looking statements even if experience or future changes
make it clear that any projected results expressed or implied
therein will not be realized.
Bank of Florida Corporation has filed a registration statement
(including a prospectus) (SEC File Number 333-161252) with the SEC
for the offering to which this communication relates. Before you
invest, you should read the prospectus in that registration
statement and other documents the issuer has filed with the SEC for
more complete information about the issuer and this offering. You
may get these documents for free by visiting EDGAR on the SEC Web
site at www.sec.gov. Alternatively, the issuer, any underwriter or
any dealer participating in the offering will arrange to send you
the prospectus if you request it by calling toll-free
1-866-226-5352.
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