Green Bancorp, a Texas bank with 12 branches in the Houston, Dallas and Austin MSAs, announced terms for its IPO on Tuesday. The Houston, TX-based company plans to raise $75 million by offering 4.7 million shares at a price range of $15 to $17. At the midpoint of the proposed range, it would command a fully diluted market value of $428 million.
Green Bancorp, which was founded in 2006 and booked $65 million in sales for the 12 months ended March 31, 2014, plans to list on the NASDAQ under the symbol GNBC. Sandler O'Neill and Jefferies are the joint bookrunners on the deal. It is expected to price during the week of August 4, 2014.
