Existing shareholders bought another 533,029 shares of TIB stock.
NAPLES — TIB Financial Corp. (symbol: TIBB) raised $8 million in new capital from a stock offering to existing shareholders. The bank sold 533,029 of the 1,488,792 shares it was offering to investors.
The offering was partly motivated by TIB's interest in remaining a part of various listings on the NASDAQ Stock Market. While the number of recently sold shares was sufficient to keep TIB on the NASDAQ Capital Market, the stock will not remain a part of the NASDAQ Global Select Market unless the bank is granted an extension to sell more shares, a release said.
TIB Financial Corp. is headquartered in Naples. The bank manages $1.7 billion in assets.