C1 Financial Launches Initial Public Offering of Common Stock

Contact: Trevor R. Burgess
Title: Chief Executive Officer
Date: August 1, 2014
Phone: 845-233-0399
Email: Trevor.Burgess@C1Bank.com

ST. PETERSBURG, Fla. - C1 Financial, Inc. ("C1") announced today that it has launched an initial public offering of shares of its common stock pursuant to a registration statement on Form S-1 filed with the Securities and Exchange Commission ("SEC"). C1 is offering 2,631,579 shares of common stock at an expected price range between $18.00 and $20.00 per share. C1 has also granted the underwriters a 30-day option to purchase up to an additional 394,737 shares to cover over-allotments, if any. The common stock is expected to trade on the New York Stock Exchange under the symbol "BNK".

Keefe, Bruyette & Woods, Inc. and Raymond James & Associates, Inc. are acting as joint bookrunners for the offering. Sandler O'Neill & Partners, L.P., Wunderlich Securities, Inc., Hovde Group, LLC and Monroe Financial Partners, Inc. are acting as co-managers for the offering.

The offering will be made only by means of a prospectus. When available, copies of the preliminary prospectus relating to the offering may be obtained from Keefe, Bruyette & Woods, Inc., A Stifel Company, 787 Seventh Ave., 4th Floor, New York, New York 10019, Attention: Equity Capital Markets, or by calling 1-(800)-966-1559; or Raymond James & Associates, Inc., 880 Carillon Parkway, St. Petersburg, Florida 33716, or by calling 1-(800)-248-8863.

The registration statement relating to these securities has been filed with the SEC, 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 the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

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