Professional Holding Corp, a Florida bank with nine locations across the Miami-Dade MSA, raised $57 million by offering 3.1 million shares at $18.50, slightly below the range of $19 to $21. At the offer price, Professional Holding Corp commands a fully diluted market value of $232 million, pro forma its planned acquisition of Marquis Bancorp.
Professional Holding plans to list on the Nasdaq under the symbol PFHD. Stephens Inc. and Keefe Bruyette Woods acted as lead managers on the deal.
