Northpointe Bancshares, a Michigan-based bank that offers loan and deposit services across the US, filed on Thursday with the SEC to raise up to $201 million in an initial public offering.
Northpointe Bank was founded in 1999 as a focused mortgage portfolio lender primarily operating in the midwestern states of Michigan, Ohio, and Indiana. The bank now offers a nationwide mortgage purchase program, residential mortgage loans, digital deposit banking to retail customers, and custodial deposit services to loan servicing clients. Its delivery systems are primarily digital, and with loan production offices across 23 cities in 15 states, the bank has established a nationwide presence with clients in all 50 states and the District of Columbia.
The Grand Rapids, MI-based company was founded in 1999 and booked $175 million in revenue for the 12 months ended September 30, 2024. It plans to list on the NYSE under the symbol NPB. Northpointe Bancshares filed confidentially on December 20, 2024. Keefe Bruyette Woods is the sole bookrunner on the deal. No pricing terms were disclosed.
