Davis Polk advised C1 Financial, Inc. (“C1”) and the selling stockholders in connection with the $21.7 million SEC-registered secondary offering of 1,256,255 shares of common stock of C1 by the selling stockholders. C1’s common stock is traded on the New York Stock Exchange under the symbol “BNK.”
Based in St. Petersburg, Florida, C1 is focused on servicing the needs of entrepreneurs, tailoring a wide range of relationship banking services to entrepreneurs and their families, including commercial loans and a full line of depository products. C1 is the 18th-largest bank by assets and the 16th-largest by equity in the State of Florida, increasing assets from $260 million at December 31, 2009, to $1.7 billion at June 30, 2015. C1 operates from 31 banking center locations and one loan production office on the West Coast of Florida and in Miami-Dade and Orange Counties.
The Davis Polk capital markets team included Manuel Garciadiaz and Debora A. Ayoub. The benefits team included Jean M. McLoughlin and Florentino Salazar. Luigi L. De Ghenghi provided regulatory advice. Michael Mollerus and Sam R. Van Peperstraete provided tax advice. Members of the Davis Polk team are based in the New York and São Paulo offices.