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First Bank Starts At-the-Market Offering of 2 Mln Shares


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First Bank ( FRBA ), a New Jersey state-chartered bank, said pre-market Friday that it has entered into an equity distribution agreement with Sandler O'Neill + Partners to sell up to 2 million shares in an at-the-market offering.

All of the shares to be sold in the offering will be offered by First Bank.

First Bank said it will use the net proceeds from the offering for general corporate purposes, including the support of additional growth.

The shares will be offered through Sandler O'Neill + Partners, as distribution agent.

Sales of common stock, if any, will be made from time to time in negotiated transactions at market prices prevailing at the time of a sale or at negotiated prices, or as otherwise agreed with the distribution agent, and, as a result, sale prices may vary.

The offering will be made only by means of an offering circular.

Shares closed at $14.15 on Thursday, up 1.4% on the day, and 2.2% since the beginning of the year.

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

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This article appears in: Investing , ETFs
Referenced Symbols: FRBA


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