Beach Community Bank News
Tuesday evening the Northwest Florida Daily News posted an article online regarding our recently
announced recapitalization totaling over $100 million. Unfortunately, the newspaper chose to title
the article "Beach Community Bank to be sold after bankruptcy." This is a very misleading
and seems to indicate that Beach Community Bank itself was in bankruptcy. This is simply not true.
The article also indicated that the bank was being sold to "institutional investors and individuals."
Here are the facts. Beach Community Bank, today, is owned by a holding company Beach Community Bancshares,
Inc. The holding company is owned by institutional investors and individuals. The holding company -
not the bank - is in bankruptcy and when it emerges from bankruptcy, the shares of the bank will
transfer to the new investors who will then inject over $100 million in new capital into the
This capital injection - the largest capital infusion into a community bank headquartered in
Northwest Florida in history - is the real story. These investors recognize the value of Beach
Community Bank - its employees, its facilities, its products and services, as well as the vast
potential of Northwest Florida itself. This new capital will be leveraged over the next few years
into hundreds of millions of dollars in new commercial and consumer loans to our present and future
customers. We are very excited about our area's economic future and are looking forward to playing
a leading role in our region's economic success.