PCSB Financial (PCSB) IPO Opens Sharply Higher

Today's IPO for PCSB Financial (NASDAQ: PCSB) opened for trading at $15.80 after the company sold 17,826,408 shares of common stock, which includes 1,453,209 shares sold to the PCSB Bank Employee Stock Ownership Plan, at a price of $10.00 per share.

Sandler O'Neill& Partners, L.P. acted as marketing agent for the Company in connection with the stock offering. Luse Gorman, PC acted as legal counsel to the Company and PCSB Bank. Silver, Freedman, Taff & Tiernan LLP acted as legal counsel to Sandler O'Neill & Partners, L.P.

PCSB Bank is a New York-chartered stock savings bank and the wholly-owned subsidiary of PCSB Financial Corporation. PCSB Bank has served the banking needs of its customers in the Lower Hudson Valley of New York State since 1871. It operates from its executive offices/headquarters and 15 branch offices located in Dutchess, Putnam, Rockland and Westchester Counties in New York.

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