TAMPA, Fla. – (July 14, 2017) – Skyway Capital Markets, a boutique investment banking firm serving growth-oriented middle market clients and financial institutions, announced today that it served as lead placement agent for First Home Bancorp, Inc. (the “Company”), the parent company of First Home Bank, in a private placement with institutional investors and select accredited investors of 251,364 shares of common stock at a purchase price of $37.50 per share, for gross proceeds of $9.426 million.
“This capital raise marks an important inaugural transaction for Skyway’s focus on community banks,” said Russ Hunt, CEO of Skyway Capital Markets. “Our team has a long history serving financial institutions and we are dedicated to supporting the capital needs of community banks in both the private and public capital markets.”
“Over the last year, Skyway has served as placement agent and advisor on approximately $200 million in capital transactions for financial services and real estate firms. Community banks are a natural extension to our success in those industries,” said Marty Traber, chairman of Skyway’s capital markets group.
The Company intends to use the net proceeds of the offering for general corporate purposes and to provide capital to support the future growth of First Home Bank.
“We are extremely pleased at the outcome of this offering. With the support of some of the most well-known institutional investors in community bank stocks combined with investors in our market area, we were able to surpass our initial target of $8 million,” said Anthony N. Leo, First Home’s CEO. “The Skyway team, led by Russ Hunt, did a superb job in executing this successful transaction for First Home Bancorp.”
This announcement is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy securities.
About First Home Bancorp, Inc.
First Home Bancorp, Inc. (“First Home”) serves its customers from three offices in downtown St. Petersburg, Seminole and Pinellas Park. Additionally, First Home has established a successful nationwide small business lending platform. As of March 31, 2017, First Home had $179.5 million in assets, net loans of $120.6 million, and shareholders’ equity of $17.7 million (before net proceeds of the offering). Over the last three years, First Home has grown to the 10th largest SBA lender in the U.S. and one of the most profitable banks in the country.
About Skyway Capital Markets, LLC
Skyway Capital Markets is a Tampa, Fla-based investment bank focused on growing middle market companies and financial institutions. Skyway provides its clients strategic advice and execution on equity and debt capital raising (public and private), mergers and acquisitions, and financial advisory services.