WL Ross-backed Talmer Bancorp sets terms for $210 million IPO

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Talmer Bancorp, a WL Ross-backed regional bank with 94 branches and 13 lending offices in the Midwest, announced terms for its IPO on Friday. The Troy, MI-based company plans to raise $210 million by offering 15.6 million shares (76% insider) at a price range of $12.50 to $14.50. At the midpoint of the proposed range, Talmer Bancorp would command a fully diluted market value of $1.0 billion.

Talmer Bancorp, which was founded in 2007 and booked $153 million in sales for the 12 months ended September 30, 2013, plans to list on the NASDAQ under the symbol TLMR. The company initially filed confidentially on June 15, 2012. Keefe Bruyette Woods and J.P. Morgan are the joint bookrunners on the deal.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: News Headlines , IPOs

Referenced Stocks: TLMR

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