Professional Holding Plans $62 Million IPO for February 7th (PFHD)

Professional Holding (PFHD) plans to raise $62 million in an IPO on Friday, February 7th, IPO Scoop reports. The company will be issuing 3,100,000 shares at a price of $19.00-$21.00 per share.

In the last year, Professional Holding generated $36.9 million in revenue and $2.1 million in net income. Professional Holding has a market-cap of $164.3 million.

Stephens and Keefe, Bruyette & Woods (A Stifel Company​) acted as the underwriters for the IPO and Hovde Group was co-manager.

Professional Holding provided the following description of their company for its IPO: “(Note (not an initial public offering): Prior to this offering, our Class A Common Stock has not been traded on an established public trading market, although quotations for our Class A Common Stock   were reported on the OTC Pink, or the Pink Open Market, under the symbol “PFHD.”) We are a financial holding company incorporated in 2014 and headquartered in Coral Gables, Florida. We operate primarily through our wholly owned subsidiary, Professional Bank, a Florida state-chartered bank, which commenced operations in 2008. We focus on providing creative, relationship-driven commercial banking products and services designed to meet the needs of our clients. Our clients are small to medium sized businesses, the owners and operators of these businesses, and other professionals, entrepreneurs and high net worth individuals.   “.

Professional Holding was founded in 2008 and has 135 employees. The company is located at 396 Alhambra Circle, Suite 255, Coral Gables, FL 33134, US and can be reached via phone at (786) 483-1757 or on the web at http://www.myprobank.com.

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