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New Orleans-based First NBC Bank sets terms for $100 million IPO
By: Renaissance Capital
First NBC Bank Holding Company, a full-service bank operating
more than 30 branches in the New Orleans metropolitan area,
announced terms for its IPO on Tuesday. The New Orleans, LA-based
company plans to raise $100 million by offering 4.2 million
shares at a price range of $22 to $26. At the midpoint of the
proposed range, First NBC Bank Holding Company would command a
fully diluted market value of $426 million.
First NBC Bank Holding Company, which was founded in 2006 and booked $120 million in revenue for the 12 months ended 12/31/2012, plans to list on the NASDAQ and announced its ticker would be NBCB. Sandler O'Neill and Keefe Bruyette Woods are the joint bookrunners on the deal.