Slideshow Banking's IPO Spurt

Published
  • April 16 2014, 7:00am EDT
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Banks from New Jersey to California are going public with offerings ranging from $23 million to $223 million. The banks will use the proceeds to do everything from buy other institutions to retire debt. Following is a look.

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First Bank's Modest Offering

The Hamilton, N.J., company raised roughly $23 million in November, selling 3.8 million shares at $6 each. It used the proceeds to acquire Heritage Community Bank and fund future growth opportunities. First Bank's (FRBK) stock has risen by more than 8% so far this year.

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Acquirer Seeks More Fuel

Talmer Bancorp (TLMR) in Troy, Mich., is an innovative acquirer backed by Wilbur Ross. The company, led by CEO David Provost, went public in February, using some of its nearly $43 million in proceeds to pay off a credit line tied to an acquisition.


ServisFirst Weighs Its Options

The Birmingham, Ala., company has filed to sell about $72 million in stock in its upcoming public debut. ServisFirst, led by President and CEO Tom Broughton, said it could use funds to pay down debt or acquisitions, though it doesn't have any specific deals lined up.


Phase Two for Square 1

Square 1 Financial (SQBK) in Durham, N.C., has said it would use the $94 million from its IPO to redeem preferred stock and support "long-term growth by enhancing capital ratios in light of Basel III." Its stock has dipped nearly 5% since its March 27 debut.

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Opus Bank's Big Capital Raise

The Irvine, Calif., bank found new life after a group of investors led by Stephen Gordon, recapitalized Bay Cities National Bank. The fast-growing bank and certain investors expect to raise $223 million by selling roughly 5.7 million shares. Opus intends to use its funds for general corporate purposes and to support growth in the Western U.S. and the Opus Community Foundation


RBS Citizens Preps to Go Public

Royal Bank of Scotland has said that it plans to sell a portion of its U.S. bank, the $122 billion-asset RBS Citizens led by Bruce Van Saun, to outside investors later this year. If the parent company proceeds, it will use the funds to strengthen its capital position. The IPO plans have been complicated after the Fed rejected the U.S. bank's capital plan, though RBS says the offering is still on track.