08/14/2019 | Press release | Distributed by Public on 08/14/2019 09:34
August 14, 2019 - Professional Holding Corp. (OTC PINK:PFHD) and Marquis Bancorp, both of Coral Gables, Florida, have announced the signing of a merger agreement.
The combined bank will have approximately $1.6 billion in assets, making it the 12th largest community bank in Florida and the 4th largest in South Florida. The transaction is expected to close in late 2019 or early 2020.
'We are truly excited to be partnering with Professional and believe now is the time to combine our franchises to create the premier community bank in South Florida,' said Javier J. Holtz, Marquis Bank's Chairman and CEO. 'This is a tremendous opportunity for two high-performing banks with similar cultures to join together in this transformational merger. This is a win-win for our clients, associates, and shareholders.'
Janney provided a fairness opinion to Marquis Bancorp, led by Matt Veneri, Managing Director and Co-Head of Investment Banking, and Lozan Aleksandrov, Managing Director, Equity Capital Markets, FIG Group.