FLORIDA BANK SHARE OFFERING

  EXECUTIVE SUMMARY FLORIDA BANK The bank is located in Cocoa Beach, Florida and was established in 2005 with two branches and 100 million in deposits. The deposits …

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EXECUTIVE SUMMARY FLORIDA BANK

The bank is located in Cocoa Beach, Florida and was established in 2005 with two branches and 100 million in deposits. The deposits encompass 69.3m/CD, 13.6m/ NOW, 8.7m/Demand and 8.7m Savings and Money Market accounts.  The COF is .75% and the COD is .71%. The loan portfolio is very clean with problem assets in the range of 8-10m and some of them are NPN and others classified. The breakdown is 1.1m/NPN, 3.6m/Classified and 4m OREO.  A narrative can be provided on each loan. Currently, the loan reserves are at 4 million.  Albeit, the bank has passed a recent exam and audit by the FDIC. The bank is considered to be in capitalized status.  An investment of 5-8 million would get the bank to the status needed to expand product base to increase revenue growth.

 Due to limited capitalization the bank has not been able to pursue the growth opportunities it desired. Therefore, they are presenting a share offering available to investors or banking partners. There are three investment options available to the potential investors.

First, 8 million for 81% of the offering. Second, 6.5 million for 100% of outstanding shares from existing shareholders. Third, 5 million for 51% of the offering. The bank is profitable and would be a viable partner. They are also open to other investment alternatives.

The bank has an offer from an investor in South America for the 5 million 51% offering share at this time. Their, preference is to have a domestic partner in this venture. The investment options can be determined at the initial communication. The bank has a recent Salt Marsh report, offering sheet and current financials that will be made available to the investors for due diligence. The bank is willing to setup a conference call with the investors and Chairman, CEO and CFO of the bank to discuss this opportunity. The bank also reflected a profit year end 2011 and can provide the figures upon request.

In order to move forward and review all documentation mentioned above the potential investor must execute the bank’s CA/Non-Disclosure Agreement.  If the investor/bank wants to proceed, REM Financial and Real Estate will register the buyer with the bank. At that point the bank will forward the CA in the potential buyers name to be executed and returned prior to receipt of  documentation mentioned above.

If you would like to move forward and review this opportunity, please contact our office.

REM Financial and Real Estate

Ronald E. McFarland

951-545-7629

remmtg@gmail.com

 

 

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