Telebanc Financial Corp., a pioneer of telephone-based banking, raised $60 million in a 4.5 million-share offering July 23.

The share price closed at $22.375 that first day, $8 above the offering price set by underwriters BancAmerica Robertson Stephens, CIBC Oppenheimer, and Legg Mason Wood Walker Inc.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.