Capital Bank Financial

Capital Bank Financial Corp. (NASDAQ: CBF, previously called North American Financial Holdings Inc., or NAFH) is a bank holding company headquartered in Coral Gables, Florida with $10 billion in assets as of first quarter 2017 and 193 branches. Former Bank of America vice chairman Gene Taylor is chief executive, former Bank of America executive and Fifth Third Bank CFO, Chris Marshall is CFO and former Bank of America executive, R. Bruce Singletary is Chief Risk Officer. Former Morgan Stanley research analyst, Kenneth Posner, manages research. Its original purpose was to take over banks that had difficulties due to the financial crisis of 2007–2010, making money by paying low prices and then improving the banks' performance. The company's main interest was banks in the Carolinas and Florida, but in 2011, NAFH moved into Tennessee and Virginia for the first time. Despite buying seven distressed, money losing banks, Capital Bank has been profitable since inception and has consistently posted improved returns for each of its five years of operations. Capital Bank completed a successful IPO in September 2012 and now trades on the NASDAQ under the ticker CBF. Capital Bank stock has done well since its debut, outperforming most bank indexes over the past few years.

In December 2009, NAFH raised $900 million from such sources as private equity firms Crestview Partners, Oak Hill Advisors and Falfurrias Capital Partners. In March 2010 the OCC granted NAFH a national bank charter, and the search began for banks to acquire.

On June 29, 2010, Naples, Florida-based TIB Financial Corp., parent of TIB Bank and Naples Capital Advisors, announced that NAFH had agreed to invest $175 million in the company. Over the next 18 months, NAFH would have the right to invest $175 million more. The deal was completed in third quarter 2010.

As of July 16, 2010, NAFH owned MetroBank of Dade County, Florida; Turnberry Bank of Aventura, Florida; and First National Bank of the South in Spartanburg, South Carolina. These four banks, after approval of the TIB deal, give NAFH $3.1 billion in assets, and 10 branches in the Miami, Florida area and 13 in South Carolina, plus 28 more branches in southwest Florida with the completion of the TIB deal. NAFH did not pay for the three banks it already owns, but instead divided loan losses with the Federal Deposit Insurance Corporation.

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