National Commerce Corporation Announces Pricing Of Common Stock Offering

BIRMINGHAM, Ala., June 07, 2017 (GLOBE NEWSWIRE) — National Commerce Corporation (Nasdaq:NCOM) (the “Company”), the parent holding company of National Bank of Commerce (the “Bank”), announced today the pricing of an underwritten public offering of 960,000 shares of the Company’s common stock at a price to the public of $37.00 per share for gross proceeds of approximately $35.5 million. The net proceeds to the Company after deducting underwriting discounts and commissions and estimated offering expenses are expected to be approximately $33.6 million. The Company has granted the underwriters a 30-day option to purchase up to an additional 144,000 shares of its common stock. Keefe, Bruyette & Woods, A Stifel Company, will serve as the sole book-running manager, with Raymond James & Associates, Inc. and Stephens Inc. serving as co-managers for the offering. 

The Company expects to close the transaction, subject to customary conditions, on or about June 12, 2017.This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering is being made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-210687) filed with the U.S. Securities and Exchange Commission (“SEC”). The offering will be made only by means of a prospectus, copies of which may be obtained from Keefe, Bruyette & Woods, Inc., Equity Capital Markets, 787 Seventh Avenue, 4th Floor, New York, NY 10019, by calling toll-free (800) 966-1559. These documents are available at no charge by visiting the SEC’s website at http://www.sec.gov. 

About National Commerce Corporation

National Commerce Corporation (Nasdaq:NCOM), a Delaware corporation, is a financial holding company headquartered in Birmingham, Alabama. Substantially all of the operations of National Commerce Corporation are conducted through the company’s wholly owned subsidiary, National Bank of Commerce. National Bank of Commerce currently operates seven full-service banking offices in Alabama, ten full-service banking offices in central and northeast Florida (including under the trade names United Legacy Bank and Reunion Bank of Florida) and two full-service banking offices in Atlanta, Georgia (including under the trade names Private Bank of Buckhead, Private Bank of Decatur and PrivatePlus Mortgage). National Bank of Commerce provides a broad array of financial services for commercial and consumer customers.