Florida Community Banks, Inc. Raises $10,000,000 in Offering of Floating Rate Capital Securities.Business Editors IMMOKALEE, Fla.--(BUSINESS WIRE)--June 21, 2002 Stephen Stephen, 1097?–1154, king of England (1135–54). The son of Stephen, count of Blois and Chartres, and Adela, daughter of William I of England, he was brought up by his uncle, Henry I of England, who presented him with estates in England and France and L. Price, President and Chief Executive Officer of Florida Florida, state, United States Florida (flôr`ĭdə, flŏr`–), state in the extreme SE United States. A long, low peninsula between the Atlantic Ocean (E) and the Gulf of Mexico (W), Florida is bordered by Georgia and Community Banks, Inc. in Immokalee, Florida Immokalee is a census-designated place (CDP) in Collier County, Florida, United States. The population was 177,0948. The name was submitted by settlers to the Postmaster General in 1895, suggested by the woman who would become the first Immokalee postmistress in 1898, Mary Burrell. , the parent company of Florida Community Bank, today announced that the Company has completed the sale of $10,000,000 FCBI FCBI Functional Configuration Baseline Index Capital Trust I floating rate capital securities ("Capital Securities") to investors with a maturity date of September September: see month. 30, 2032. Interest on the Capital Securities is to be paid on the last business day of each March, June, September, and December, and is reset quarterly based on the Prime rate plus 50 basis points at the end of the preceding quarter. Florida Community intends to use the proceeds from this offering for general corporate purposes, including providing capital to its bank subsidiary, which will use a portion of the funds to prepay pre·pay tr.v. pre·paid, pre·pay·ing, pre·pays To pay or pay for beforehand. pre·pay  ment n. $5.0 million in outstanding subordinated capital notes. Mr. Price stated, "Our Company raised this capital to support our strong growth over the past two years and our expected future growth. We are very pleased with the Capital Securities offering, which will be non-dilutive to our existing shareholders." The Bankers Bank and BankersBanc Capital Corporation both of Atlanta acted as co-placement agents for the Capital Securities offering. Florida Community Banks, Inc. is a bank holding company headquartered in Immokalee, Florida with assets totaling $428 million at March 31, 2002. |
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