National Commerce Bancorp in Memphis is hoping to raise about $100 million in a stock offering to expand its business lines and finance acquisitions.

The $6 billion-asset company said Monday that it will issue 4.07 million shares and sell 1.93 million owned by a group of officers and directors. At National Commerce's midday Tuesday trading price, the offering would raise about $98 million for the company and $47 million for the seven individual shareholders.

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.