National Commerce Corporation (NCOM) Files $50M IPO

National Commerce Corporation (NASDAQ: NCOM) filed with the U.S. SEC for an IPO of its common stock. The proposed maximum offering price is $50 million. The company has applied to list its shares on NASDAQ under the symbol "NCOM".

Keefe, Bruyette & Woods is the sole book-running manager.

National Commerce Corporation is a bank holding company headquartered in Birmingham, Alabama. We operate two subsidiary banks – National Bank of Commerce, or NBC, and United Legacy Bank, or ULB. We intend to consolidate ULB with NBC in February 2015, although each of the ULB banking offices will continue to operate as “United Legacy Bank, a division of National Bank of Commerce."

Through its Banks, the company provides a broad array of financial services to businesses, business owners and professionals through eight full-service banking offices in Alabama (Birmingham, Huntsville, Auburn-Opelika, and Baldwin County) and six full-service banking offices in Central Florida (Longwood, Winter Park, Orlando, Oviedo, Kissimmee, and Vero Beach). They also own a 70% equity interest in CBI Holding Company, LLC, or CBI, which owns Corporate Billing, LLC, or Corporate Billing, a transaction-based finance company headquartered in Decatur, Alabama, that provides factoring, invoicing, collection, and accounts receivable management services to transportation companies and automotive parts and service providers throughout the United States and parts of Canada. As of September 30, 2014 (on a pro forma basis to reflect the acquisition of United Group Banking Company of Florida, Inc., or United), the company had total assets of $1.1 billion, total deposits of $962 million, total loans of $857 million, and total shareholders’ equity of $134 million.

You May Also Be Interested In

• Meridian3 Industrials closes $201.25M IPO on Nasdaq
• Moog Inc. elects Carl Christenson to its board of directors
• Vontier completes sale of Teletrac Navman for $220 million