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Midwest community bank Talmer Bancorp prices IPO at $13, within the range

2/11/2014 9:29:00 PM
By: Renaissance Capital
Referenced Stocks:TLMR

Talmer Bancorp, a Wilbur Ross-backed regional bank with 94 branches in the Midwest, raised $202 million by offering 15.6 million shares (76% insider) at $13, within the range of $12.50 to $14.50. At the offer price, the company commands a market cap of approximately $980 million. Talmer Bancorp will list on the NASDAQ under the symbol TLMR. Keefe Bruyette Woods and  J.P. Morgan acted as lead managers on the deal.