First Bank (Nasdaq:Â FRBA) announced today that it has commenced an underwritten public offering of approximately $35 million of shares of its common stock. All of the shares to be sold in the offering will be offered by First Bank. In addition, First Bank intends to grant the underwriters a 30-day over-allotment option to purchase an additional 15% of the shares sold in the offering. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or the actual size or terms of the offering.
First Bank intends to use the net proceeds from the offering for general corporate purposes, including the support of additional growth.
Sandler O’Neill + Partners, L.P. and Robert W. Baird & Co. Incorporated are acting as joint book-running managers for the proposed offering. Hovde Group, LLC and FIG Partners are acting as co-managers.
The offering will be made only by means of an offering circular. Copies of the preliminary offering circular relating to this offering may be obtained, when available, by contacting Sandler O’Neill + Partners, L.P., Attention: Prospectus Department, 1251 Avenue of the Americas, 6th Floor, New York, NY 10020, or via email at [email protected]; or Robert W. Baird & Co. Incorporated, Attention: Syndicate Department, 777 E. Wisconsin Avenue, Milwaukee, WI 53202, or via email at [email protected].
This press release is for informational purposes only and shall not constitute an offer to sell or a solicitation of an offer to buy the securities, which is being made only by means of an offering circular, nor shall there be any sale of the securities in any state or jurisdiction 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 securities are neither insured nor approved by the Federal Deposit Insurance Corporation.
