Dallas Salazar
IPOs, contrarian, long/short equity, long-term horizon

Talmer Bancorp: Growing Through Acquisition, But Is It Sustainable?

Who is Talmer Bancorp?

Talmer Bancorp (NASDAQ:TLMR) is a regional banking franchise that is concentrated in the Midwest with a majority focus in Michigan and Ohio.

On 2/14/2014 TLMR held an IPO and sold 3,703,703 shares of stock for $13/share, and selling shareholders sold 11,851,852 shares, for gross proceeds to the company of $48.1 million. The stock has since traded in a range of $13.05-$15.42 and most recently settled at $14.27, which is unusually low volatility for a financial IPO. I believe this lack of volatility can largely be credited to the fact that TLMR's business model is not traditional and that the model itself has done little in the 4 months since IPO to clarify the future...

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