Community banking

National Bank in Colorado Sets IPO Price

By Jackie Stewart September 11, 2012, 10:35 a.m. EDT 1 Min Read

Community banking

EverBank's Low IPO Price Sends Message to Bankers

EverBank had to lower its expectations to raise capital, solidifying a belief that banks will find it difficult going to public markets anytime soon.

By Rachel Witkowski

May 3

National Bank Holdings in Greenwood, Colo., plans to raise up to $180.9 million after completing an initial public offering.

Shareholders, who will sell about 7.2 million shares at $20 to $22 each, have granted underwriters an option to buy an additional 1.1 million shares. National Bank will not receive any proceeds from the offering, the company said in a regulatory filing on Monday.

The $5.8 billion-asset company was formed in 2009 to buy distressed banks. It recently moved its headquarters to the Denver area from Boston after completing a string of acquisitions in Colorado and nearby states. The company bought three failed banks last year. It bought Bank Midwest in Kansas City, Mo., in 2010.

Capital Bank Financial, another bank roll-up company, also priced its IPO on Monday. The Coral Gables, Fla., company expects to sell 11.3 million shares at $21 to $23 a share.

Executive Editor, American Banker Magazine

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