Shareholders of First Advantage Bancorp, which on Friday delisted its shares from the Nasdaq, can now trade their stock on the OTCQB platform. First Advantage, which has about 560 investors, last month said it will use SecondMarket as the official trading venue for its shares. The OTCQB market is home to more than 3,200 companies.
Bank holding company Community First Inc. continues to make progress toward the capital levels imposed on it by the Federal Deposit Insurance Corp. in September 2011 even though it posted only a tiny first-quarter comprehensive profit. The parent of Community First Bank & Trust now needs $7 million in capital to meet the FDIC's heightened requirements, which means it may still have put its shareholders through a very dilutive stock offering. But the gap is now $4 million smaller than it was at the end of 2012, which was itself a decent improvement from Q3's $15.3 million.
Another note from the company's quarterly report filed last week: Because Community First has missed six straight dividend payments on the $18 million of preferred stock it sold to the U.S. Treasury four years ago, the feds now have the right to put two representatives on the company's board.
Nine-year-old Nashville Bank & Trust will this week rebrand itself to Truxton Trust as it looks to build out a client base that already reaches 14 states. The push is slated to include hiring financial advisors in other cities. Nashville Bank & Trust posted a first-quarter profit of $716,000 as its assets grew slightly to $302 million.
CapStar Bank has beefed up its commercial finance division with the hiring of experienced account executives in Atlanta and Charlotte. The duo of Larry Hawk and Tebin McDowell have several decades of combined experience. In Georgia, Hawk joins Jim Ward, who came on board earlier this spring.