Capital Bank Financial Completes Its Initial Public Offering

Sept 26 - Capital Bank Financial Corp. (Nasdaq:CBF), formerly known as North American Financial Holdings Inc., a North Carolina-based national bank holding company, has completed its previously announced initial public offering of 10 million shares of class A common stock at $18 per share. Capital Bank Financial sold 5.68 million shares and certain of its stockholders sold 4.32 million shares.
The underwriters have an option until Oct. 19, 2012, to purchase from the selling stockholders up to an additional 1.5 million shares of class A common stock, on the same terms and conditions, to cover over-allotments, if any.

Net proceeds received by Capital Bank Financial from the initial public offering were approximately $90.6 million, after deducting underwriting discounts and commissions and estimated offering expenses. Capital Bank Financial intends to use its net proceeds from the offering for general corporate purposes. Capital Bank Financial will not receive any proceeds from the sale of shares by the selling stockholders.

Credit Suisse Securities (USA) LLC, BofA Merrill Lynch, Goldman, Sachs & Co., Barclays and FBR acted as joint book-running managers of the offering. Keefe, Bruyette & Woods and Sandler, O'Neill + Partners, L.P. acted as co-managers of the offering. The offering was made only by means of a prospectus.

About Capital Bank Financial Corp.
Capital Bank Financial is a national bank holding company that was incorporated in the State of Delaware in 2009. Capital Bank Financial has raised approximately $1 billion of equity capital with the goal of creating a regional banking franchise in the southeastern region of the United States. Capital Bank Financial has previously invested in First National Bank of the South, MetroBank of Dade Country, Turnberry Bank, TIB Financial Corp., Capital Bank Corporation and Green Bankshares Inc. Capital Bank Financial is the parent of Capital Bank, National Association, a national banking association with approximately $6.3 billion in total assets and 143 full-service banking offices throughout southern Florida and the Florida Keys, North Carolina, South Carolina, Tennessee and Virginia. Capital Bank Financial is also the parent company of Naples Capital Advisors Inc., a registered investment advisor.