Florida banks raise $208M

Florida banks have raised $207.7 million in new capital this year, mostly through the sale of common equity, according to a new report published by SNL Financial.

Most of the capital raises were orchestrated by banks based in Southeast Florida, such as Miami Lakes-based BankUnited Inc., which raised $108 million through a common equity sale in January.

The BankUnited deal is also one of several Florida capital raises that took place earlier this year. The report published by SNL says most of this year's capital deals took place in the first half of 2011.

“Following an active start to 2011 in the capital markets, things slowed down in the late summer as heightened volatility and a sharp sell-off in global equities sparked jitters,” the report explains.

Along the Gulf Coast, TIB Financial Corp. raised nearly $8 million in a common equity sale in January, while Florida Bank Group raised slightly more than $5 million through a two-part preferred equity sale that took place in June and September.