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First Bank New Jersey prices IPO at $6, below expectations

11/18/2013 11:15:00 AM
By: Renaissance Capital
Referenced Stocks:FRBA

First Bank New Jersey, which provides traditional deposits and loan products through four New Jersey branches, raised $20 million by offering 3.3 million shares at $6, below its anticipated IPO price of $6.25. First Bank New Jersey plans to list on the NASDAQ under the symbol FRBA. Baird acted as lead manager on the deal.