MIAMI, Dec. 3, 2007 (PRIME NEWSWIRE) -- Great Florida Bank (Nasdaq:GFLB), a Florida-based full-service commercial bank, announced that it will begin trading on the NASDAQ Global Market(r) on Wednesday, December 5th under the symbol GFLB. Great Florida Bank previously traded on the OTC Bulletin Board(r) using the symbol GFLBA.
Founded only 3 1/2 years ago, Great Florida Bank is one of the youngest banks to list on the NASDAQ. In June 2004, the Bank launched with a then record $60 million of initial capital and soon followed with a second offering, which raised another $117 million of capital. On September 30, 2007, Great Florida Bank reported total assets of $1.8 billion with 21 Solution Centers located throughout Miami-Dade and Broward Counties.
"We are thrilled to be listing our innovative financial services company on the stock market which trades the stocks of the world's most progressive and pioneering companies," said Mehdi Ghomeshi, Great Florida Bank's Chairman and Chief Executive Officer.
"We are poised to continue executing our business plan, leveraging our local market competitive strengths and increasing our market share by capitalizing on south Florida's many high growth opportunities," said Ghomeshi.
Mr. Ghomeshi, along with several members of the management team and board of directors, will be in New York City on January 10, 2008 to preside over The Nasdaq Stock Market(r) closing bell to commemorate the Bank's listing.
ABOUT GREAT FLORIDA BANK
Established in June 2004, Great Florida Bank reported total assets of $1.8 billion, total loans of $1.2 billion and customer deposits of $1 billion on September 30, 2007. The corporate headquarters is located in Coral Gables, Florida and 21 Solution Centers are located throughout Miami-Dade and Broward Counties. Great Florida Bank is committed to providing ideas and solutions to its customers' financial needs by conveniently delivering personalized state-of-the-art products and services in a relaxed environment. For further information, visit our website at www.greatfloridabank.com or call 866-514-6900.
ABOUT NASDAQ:
NASDAQ is the largest U.S. electronic stock market. With approximately 3,200 companies, it lists more companies and, on average, trades more shares per day than any other U.S. market. It is home to companies that are leaders across all areas of business including technology, retail, communications, financial services, transportation, media and biotechnology. For more information about NASDAQ, visit the NASDAQ Web site at http://www.nasdaq.com or the NASDAQ Newsroom at http://www.nasdaq.com/newsroom/.