Great Western Bancorp, a regional bank owned by National Australia Bank with 162 branches across the Midwest, filed on Thursday with the SEC to raise up to $100 million in an initial public offering, although the deal size is likely just a placeholder. We estimate the IPO could raise $300 million.
The Sioux Falls, SD-based company, which was founded in 1935 and booked $103 million in net income for the 12 months ended June 30, 2014, plans to list on the NYSE under the symbol GWB. Great Western Bancorp initially filed confidentially on July 18, 2014. Deutsche Bank and BofA Merrill Lynch are the joint bookrunners on the deal. No pricing terms were disclosed.
