FB Financial Corp. (Pending:FBK) filed its S-1/A with the Securities and Exchange Commission, announcing that it plans to raise $121,764,672 in its upcoming initial public offering on Sept. 16.
We previewed this deal on our IPO Insights platform with a solid rating.
The company plans to offer 5,882,352 shares of its common stock at a price range of $16 to $18 per share. Of the offered amount, 882,352 shares are offered as an overallotment option. The lead underwriters for the offering include J.P. Morgan, UBS Investment Bank and Keefe, Bruyette & Woods and the co-managers for the offering are Raymond James, Sandler O’Neill + Partners, L.P. and Stephens Inc.
Business Summary and Assets Under Management
Headquartered in Nashville, Tennessee, FB Financial Corp. wholly owns its subsidiary bank, FirstBank, which is the third largest bank in the state. It has 45 full-service bank branches located in Tennessee and certain markets in Alabama and Georgia. The bank reports it had $2.9 billion in assets as of June 30, 2016; along with $2.5 billion in deposits and $2.1 billion in loans. It is expected that FB Financial Corp. will price during the week of Sept. 12, 2016.
Executive Management Team
Christopher T. Holmes is the CEO and president of FirstBank and the chief banking officer of FirstBank Corporation. He joined FirstBank in 2010. He has served as the CEO since Feb. 2013 and as the president since May 1, 2012. Prior to coming to work for FirstBank, Holmes served as the senior executive vice president and chief retail banking officer for The South Financial Group Inc. from 2008 to 2010. His banking experience dates to 1994 working in a variety of increasingly responsible roles for various banks and financial corporations.
James W. Ayers is the founder of First Financial Investors and serves as the chairman and executive chairman of FirstBank and FB Financial Corp. He is also the director of Premium Surgery LLC. He is the sole shareholder of FirstBank.
