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Capital Bank Financial Corp. Announces Completion Of Its Initial Public Offering

CORAL GABLES, Fla., Sept. 25, 2012 (GLOBE NEWSWIRE) -- Capital Bank Financial Corp. (Nasdaq:CBF) ("Capital Bank Financial"), formerly known as North American Financial Holdings, Inc., a North Carolina-based national bank holding company, today announced the completion of its previously announced initial public offering of 10,000,000 shares of Class A common stock at $18.00 per share. Capital Bank Financial sold 5,681,818 shares and certain of its stockholders sold 4,318,182 shares. The underwriters have an option until October 19, 2012 to purchase from the selling stockholders up to an additional 1,500,000 shares of Class A common stock, on the same terms and conditions, to cover over-allotments, if any.  

Net proceeds received by Capital Bank Financial from the initial public offering were approximately $90.6 million, after deducting underwriting discounts and commissions and estimated offering expenses. Capital Bank Financial intends to use its net proceeds from the offering for general corporate purposes. Capital Bank Financial will not receive any proceeds from the sale of shares by the selling stockholders. 

Credit Suisse Securities (USA) LLC, BofA Merrill Lynch, Goldman, Sachs & Co., Barclays and FBR acted as joint book-running managers of the offering. Keefe, Bruyette & Woods and Sandler, O'Neill + Partners, L.P. acted as co-managers of the offering. The offering was made only by means of a prospectus. Copies of the final prospectus relating to the offering may be obtained by contacting Credit Suisse Securities (USA) LLC, One Madison Avenue, New York, NY 10010, Attention: Prospectus Department, emailing newyork.prospectus@credit-suisse.com or calling 1-800-221-1037, or BofA Merrill Lynch, 4 World Financial Center, New York, NY 10080, Attention: Prospectus Department or emailing dg.prospectus_requests@baml.com.

A registration statement relating to these securities has been declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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