Beach Community Bank NW Florida

Beach Community Bank News

Tuesday evening the Northwest Florida Daily News posted an article online regarding our recently announced recapitalization totaling over $100 million. Unfortunately, the newspaper chose to title the article "Beach Community Bank to be sold after bankruptcy." This is a very misleading and seems to indicate that Beach Community Bank itself was in bankruptcy. This is simply not true. The article also indicated that the bank was being sold to "institutional investors and individuals." Here are the facts. Beach Community Bank, today, is owned by a holding company Beach Community Bancshares, Inc. The holding company is owned by institutional investors and individuals. The holding company - not the bank - is in bankruptcy and when it emerges from bankruptcy, the shares of the bank will transfer to the new investors who will then inject over $100 million in new capital into the institution.

This capital injection - the largest capital infusion into a community bank headquartered in Northwest Florida in history - is the real story. These investors recognize the value of Beach Community Bank - its employees, its facilities, its products and services, as well as the vast potential of Northwest Florida itself. This new capital will be leveraged over the next few years into hundreds of millions of dollars in new commercial and consumer loans to our present and future customers. We are very excited about our area's economic future and are looking forward to playing a leading role in our region's economic success.

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