ServisFirst Bancshares, which operates 12 commercial banks in the southeast US, announced terms for its IPO on Wednesday. The Birmingham, AL-based company plans to raise $58 million by offering 625,000 shares at a price range of $91 to $93. At the midpoint of the proposed range, it would command a fully diluted market value of $793 million.
ServisFirst Bancshares, which was founded in 2005 and booked $112 million in net interest income for the fiscal year ended December 31, 2013, plans to list on the NASDAQ under the symbol SFBS. Sandler O'Neill and Raymond James are the joint bookrunners on the deal.
