Renaissance Capital logo

Level One Bancorp Priced, Nasdaq: LEVL

Michigan-based commercial bank with $1.3 billion in assets.

Industry: Financials

First Day Return: +4.5%

Industry: Financials

Level One Bancorp, Inc. is a bank holding company headquartered in Farmington Hills, Michigan, with its primary branch operations in southeastern Michigan and Grand Rapids, Michigan. Through our wholly owned subsidiary, Level One Bank, we offer a broad range of loan products to the residential and commercial markets, as well as retail and business banking services. Since 2007, we have grown substantially through organic growth and a series of four successful acquisitions, all of which have been fully integrated into our operations. We have made significant investments over the last several years in hiring additional staff and upgrading technology and system security. In 2016, we opened our first branch in the Grand Rapids market and we plan on expanding our footprint in western Michigan in the future. In the third quarter of 2017, we opened our second location in Bloomfield Township located in Oakland County. As of December 31, 2017, the Company had total consolidated assets of $1.30 billion, total consolidated deposits of $1.12 billion and total consolidated shareholders' equity of $108.0 million. Total assets increased $173.8 million, or 15.4%, to $1.30 billion at December 31, 2017 from $1.13 billion at December 31, 2016, primarily resulting from growth in both our securities and loan portfolios. We continue to focus on growing our commercial business, commercial real estate and residential mortgage lending portfolios.
more less
IPO Data
IPO File Date 03/23/2018
Offer Price $28.00
Price Range $27.00 - $29.00
Offer Shares (mm) 1.2
Deal Size ($mm) $34
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
IPO Data
IPO Date 04/19/2018
Offer Price IPO Intelligence Only
Price Range IPO Intelligence Only
Offer Shares (mm) IPO Intelligence Only
Deal Size ($mm) $34
Lock-Up Date IPO Intelligence Only
Street Research IPO Intelligence Only
Underwriters
IPO Intelligence Only
Company Data
Headquarters Farmington Hills, MI, United States
Founded 2007
Employees at IPO 235
Website www.levelonebank.com

Level One Bancorp (LEVL) Performance