IPOs

Spirit of Texas Bancshares plans to raise $40 million to fund organic growth and acquisitions.

The 106-year-old bank is looking to raise $90 million, with plans to use half of the funds to redeem outstanding preferred stock.

The Atlanta company partners with banks and merchants to offer consumer installment loans. It could seek to raise as $1 billion as early as this summer, according to a published report.

The company said it could raise up to $25 million through the initial public offering.

OP Bancorp in Los Angeles aims to raise $20 million to fund organic growth and acquisitions.

The company could use proceeds from the planned offering to add branches and make bigger loans.

The private-equity firms, which invested in a predecessor to Union Bankshares in May 2010, sold their shares for a total of $301 million.

Most of Sterling Bancorp's operations are in San Francisco and Los Angeles. The company plans to use some of the $93 million it will raise to expand in New York and Seattle.

The company plans to use some of the offering's $48 million in proceeds to redeem preferred stock.

The bank is looking to raise $72 million, which it could use for organic growth and acquisitions.