Bank raises nearly $25 million in protective move.

First Florida Integrity Bank capital raise didn't dilute shareholders.


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  • | 12:36 p.m. August 1, 2020
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Courtesy. First Florida Senior Executive Vice President and Chief Credit Officer Jody Hudgins
Courtesy. First Florida Senior Executive Vice President and Chief Credit Officer Jody Hudgins
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First Florida Integrity Bank is taking the Boy Scout approach to the pandemic: always be prepared.

That’s why the bank recently put together a capital raise of $24.1 million, mostly from friends and previous bank investors. The private placement, of subordinated debt, allows the bank to raise capital levels without diluting existing shareholders, officials say in a statement.

 

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