Coral Gables-based Professional Bank has raised $15 million in a private sale of Class A voting stock in its holding company Professional Holding Corp.
The buyers, whose identities are not being made public, are financial firms and wealthy individuals from around the country, including previous investors, said Raul Valdes-Fauli, president and CEO of the bank.
“The primary use of the proceeds will be continued, organic growth,” Valdes-Fauli said. “This substantial capital raise is one more really important step in us becoming a best-in-class, boutique, community bank.”
The bank increased the number of its existing shares by about 30 percent to make the sale, he said.
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Professional Bank, founded in 2008, has about $280 million in assets and two branches in Miami-Dade County.
More than 40 percent of its lending portfolio is in residential real estate, according to Valdes-Fauli. The bank also has substantial investments in commercial real estate and in issuing lines of credit to local businesses.