Professional Holding (PFHD) IPO Opens at $19.31 after pricing at $18.50

Professional Holding Corp. (NASDAQ: PFHD) IPO Opens at $19.31 after pricing 3,100,000 shares at $18.50.

The Company has also granted the underwriters a 30-day option to purchase up to an additional 465,000 shares of its Class A Common Stock at the public offering price.

Stephens Inc. and Keefe, Bruyette & Woods, a Stifel Company are acting as joint book-running managers for the offering. Hovde Group, LLC is acting as co-manager.

Professional Holding Corp. is the financial holding company for Professional Bank, a Florida state-chartered bank established in 2008. Professional Bank focuses on providing creative, relationship-driven commercial banking products and services designed to meet the needs of small to medium-sized businesses, the owners and operators of these businesses, other professional entrepreneurs and high net worth individuals. Professional Bank currently operates through a network of three banking centers and four loan production offices in the Miami Metropolitan Statistical Area, as well as its Digital Innovation Center located in Cleveland, Ohio. As of December 31, 2019, the Company had total consolidated assets of approximately $1.05 billion.

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