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Florida Capital Bank Funds Released from Escrow

Bank Further Positions Itself for Profitability with Influx of Capital

JACKSONVILLE, Fla.--(BUSINESS WIRE)-- Florida Capital Bank closed on $17,263,000 of additional capital in the third quarter 2012, bringing the total amount of capital raised since December 2011 to $33,520,000.

Florida Capital Bank CEO Malcolm Jones believes that this latest accomplishment demonstrates that the bank is on the right path. “I’m very pleased that our strategic plan is moving us forward,” says Jones. “We’ve weathered a challenging economic climate but I believe that our retail, commercial and mortgage banking franchises are valuable and are key to our future profitability.”

Since taking over as CEO of Florida Capital Bank in September of 2010, Jones has focused on consolidating the bank’s retail presence, streamlining the commercial bank operations, and growing the bank’s residential mortgage underwriting business, which continues to generate substantial profits for the bank.

“Florida Capital Bank’s ability to raise capital in this market is truly commendable and I share the CEO’s comment that the bank is on the right path,” says Benjamin Bishop, Chairman of the Jacksonville investment banking firm Allen C. Ewing & Co.

Jones adds that he is optimistic about the fourth quarter. “We’re well capitalized with the transfer of these funds, and we continue to operate in several high quality Florida markets.” He continues, “Our management team and employee base are extremely committed to providing personalized, customer-focused service. That’s what will drive us to sustained profitability.”

Florida Capital Bank
Robert Higel, 904-472-2742
Chief Financial Officer

Source: Florida Capital Bank