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Naples, Fla.-based First National Bank of the Gulf Coast inked agreements related to a private placement of $148 million in committed capital.
The private investors include Lightyear Capital LLC and GMT Capital Corp.
The bank plans to use the initial $40 million capital injection to fund organic growth along Florida's western coast, according to an April 19 news release. First National Bank of the Gulf Coast intends to employ the remaining $108 million capital -- subject to future regulatory approval -- to finance other expansion opportunities within the...