BOCA RATON, Fla., Nov. 23, 2010 /PRNewswire-FirstCall/ -- (Nasdaq:
FUBC) — 1st United Bancorp, Inc. ("1st United"), today announced
that it has filed with the Securities and Exchange Commission a
universal shelf registration statement on Form S-3 providing for
the offer and sale from time to time of up to $100 million of securities, including equity,
debt and other securities as described in the registration
statement. Specific terms and prices will be determined at
the time of each offering under a separate prospectus supplement,
which will be filed with the SEC at the time of any offering.
"While we have no definitive plans to raise capital at this
time, we believe this registration statement will enhance our
ability to quickly raise capital at a later date," said
Rudy E. Schupp, Chief Executive
Officer. "We continue to be well positioned to take advantage
of both organic and acquisition growth opportunities and we believe
this shelf registration will provide us with added flexibility to
access the capital markets, if needed."
A registration statement relating to these securities has been
filed with the Securities and Exchange Commission but has not yet
become effective. These securities may not be sold nor may
offers to buy be accepted prior to the time the registration
statement becomes effective. This press release shall not
constitute an offer to sell or a solicitation of an offer to buy,
no shall there be any sale of these securities in any jurisdiction
in which an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
jurisdiction. Any offering of the securities covered under
the shelf registration will be made solely by means of a prospectus
and an accompanying prospectus supplement relating to that
offer.
Forward Looking Statements
Any non-historical statements in this press release are
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Such
forward-looking statements are based on current plans and
expectations that are subject to uncertainties and risks, which
could cause 1st United's future results to differ materially.
The following factors, among others, could cause our actual
results to differ: 1st United's ability to execute its growth
strategy, risks relating to the integration of acquired companies
that have previously been operated separately, challenges posed by
the current economic environment, disruptions in global financial
markets, credit risk of 1st United's customers, effects of the
on-going correction in residential real estate prices and reduced
levels of home sales, sufficiency of 1st United's allowance for
loan losses, 1st United's ability to comply with the loss sharing
agreements with the FDIC, changes in interest rates, access to
funding sources, reliance on the services of executive management,
competition for loans, deposits and investment dollars,
reputational risk and social factors, changes in government
regulations and legislation, increases in FDIC insurance
assessments, geographic concentration of 1st United's markets,
rapid changes in the financial services industry, exposure to
intangible asset risk, hurricanes and other adverse weather events,
and 1st United's ability to manage the risks involved in the
foregoing. Additional factors can be found in our filings
with the SEC, which are available at the SEC's internet site
(http://www.sec.gov). Forward-looking statements in this
press release speak only as of the date of the press release, and
1st United assumes no obligation to update forward-looking
statements or the reasons why actual results could differ.
SOURCE 1st United Bancorp, Inc.