Business briefs: St. Pete bank raises capital, Tampa insurer extends CEO contact and more

First Home Bancorp raised $8.9 million in a $16 million offering, a filing with the U.S. Securities and Exchange Commission said.

Anthony Leo, CEO, First Home Bank

The Jan. 2 filing said the banking company, headquartered in St. Petersburg, raised equity and debt from nine investors in an offering that began Dec. 21.

The company is the parent of First Home Bank with $354.4 million in assets and five local offices.

“The proceeds will be used to support the growth of the bank and for general corporate purposes. The capital was raised in private transactions, the terms of which were not disclosed,” said Anthony Leo, First Home Bank CEO.

Skyway Capital Markets, an investment bank in Tampa, is working with First Home Bancorp on the deal.

CEO contract

Gavin Southwell, president and CEO, Health Insurance Innovations

Health Insurance Innovations Inc. (NASDAQ: HIIQ) extended its employment contract with President and CEO Gavin Southwell for five years, through 2024.

Southwell will receive a base salary of $750,000 a year and is eligible for equity incentives and bonuses under the amended contract, a SEC filing said. He was awarded 250,000 restricted shares of Health Insurance Innovations when he signed the new contract. Those shares have a current market value of about $6.7 million.

Since Southwell joined the Tampa-based technology platform and distributor of health insurance products in 2016, the company has delivered a total shareholder return of 574 percent and has seen revenue growth of 30 percent year-over-year, a press release said.

M&A

Nonantum Capital Partners, a Boston-based private equity firm, has bought ProVest, a Tampa-based legal services support company.

Financial terms were not disclosed in a news release announcing the deal.

Founded more than 25 years ago, ProVest provides outsourced service of process and related services to law firms, leveraging its footprint of more than 2,000 process servers nationwide.

Separately, The Columbus Organization in Wayne, Penn. has acquired Support Associates of Tampa Bay for an undisclosed amount.

Support Associates of Tampa Bay is an 18-year-old company that provides support coordination services, life skills training and personal adjustment counseling in Hillsborough, Pasco and Pinellas counties and offers training services to support coordinators throughout Florida.