| IPO Company Profile |
| Current Quote | News | SEC Filings | Peer IPO Companies |
| Tarpon Coast Bancorp, Inc. |
| 4055 Tamiami Trail, Suite A-6, Port Charlotte, FL 33952 * (941) 625-1744 |
| The company is a proposed bank holding company organized in August, 1997 under Florida law to own all of the common stock of the Bank. |
| Manager | Tier | Phone |
| Robert W. Baird & Company | Lead Manager | (414) 765-3632 |
| OTC: | TCBA | Financial: | SIC 6712 | |
| Type of Shares: | Common Shares | Filing Date: | 11/5/97 | |
| U.S. Shares: | 1,000,000 | Offer Date: | 1/26/98 | |
| Non-U.S. Shares: | 0 | Filing Price: | $10.00 | |
| Primary Shares: | 1,000,000 | Offer Price: | $10.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.82 | |
| Offering Amount: | $10,000,000 | Selling: | $0.00 | |
| Expenses: | $0 | Reallowance: | $0.00 | |
| Post-IPO Shares: | 1,000,000 | |||
| Employees: | 15 |
| Issuer's Law Firm: | Smith, Mackinnon, Greeley, Bowdoin & Edwards, P.A. |
| Bank's Law Firm: | Holland & Knight |
| Auditor: | Hill, Barth & King, Inc. |
Dollar amounts in U.S. millions except for per share data | |||||
| 4 Month Ending Financials | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Audited Income | Balance Sheet | ||
| 8/31/97 | 8/31/97 | ||||
| Revenue: | $0.00 | Assets: | $0.22 | ||
| Net Income: | -$0.10 | Curr Assets: | |||
| EPS: | Liabilities: | $0.32 | |||
| Prior EPS: | Curr Liab: | ||||
| Cash Flow/Oper: | -$0.12 | Equity: | -$0.10 | ||
| Cash Flow/Fin: | $0.31 | Cash: | $0.18 | ||
| Cash Flow/Inv: | -$0.01 | ||||
| Competition |
| The banking industry in the Bank's market area has experienced significant consolidation in recent years principally as the result of the liberalization of interstate banking and branching laws. Many of the area's former community banks have been acquired by large regional organizations headquartered outside of the Bank's market area. This consolidation has resulted in the repricing of products and services, the elimination of local boards of directors, and changes in management and branch personnel and, in the perception of the Company's organizers, a decline in the level of customer service. Because of the recent changes in interstate banking regulations, this type of consolidation is expected to continue. Management believes that this competitive situation, when coupled with the area's household stability and growing economic business base, creates a favorable opportunity for a new commercial bank. Management's experience indicates that a locally-managed community bank can attract customers by providing highly professional personalized attention, responding in a timely manner to product and service requests and exhibiting an active interest in customers' business and personal financial needs. Assuming the closing of a pending acquisition, the Company expects the Bank will be the only independent commercial bank headquartered in the PMA. |
| Business Plan |
| The Bank intends to concentrate on the financial services needs of individuals and local businesses. A cornerstone of the Bank's business strategy will be to emphasize the Bank's local management and its commitment to the Bank's market area. In addition, the Company intends to hire two additional experienced individuals to serve as Senior Vice Presidents of the Bank. One such individual will serve as the Bank's Senior Lending Officer and have experience in that capacity within the Bank's market area. The second such individual will serve as the Bank's Senior Operations Officer and have experience in that capacity with community banks in the Southwest Florida area. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to capitalize the bank by purchasing all of the bank's common stock to be issued. |
| Officer Name | Title | Age |
| Lewis S. Albert | Chairman of the Board, Treasurer, and Chief Executive Officer | 45 |
| Todd H. Katz | Vice Chairman, President, Secretary and General Counsel | 32 |