The investment firm that bought Raleigh-based Capital Bank this year has filed plans for an initial public offering of stock, Charlotte Observer staff writer Rick Rothacker reports.
North American Financial Holdings is seeking to raise as much as $300 million by selling shares on Wall Street.
Its filing with the Securities and Exchange Commission, as is typical, does not yet say how many shares the company will issue, what the initial price will be and what ticker symbol the company will trade under.
NAFH is a bank holding company led by former Bank of America executives Gene Taylor and Chris Marshall that raised $900 million from investors in 2009 to buy troubled banks. Since last summer, the executives have bought five banks in the Carolinas and Florida and have a deal pending to acquire a Tennessee-based bank.
NAFH plans to consolidate its banking subsidiaries under the name Capital Bank.
Read the full Charlotte Observer story here.