Based in Boston, MA, NBH Holdings Corp. (NBHC) scheduled a $151 million IPO with a market capitalization of $1.1 billion at a price range mid-point of $21 for Thursday, September 20, 2012
Seven IPOs are scheduled for the week of September 17. Full IPO calendar available here.
NBHC S-1 filed September 11, 2012.
Manager / Joint Managers: Goldman, Sachs/ Keefe, Bruyette & Woods
Co Managers: FBR/ Sandler O'Neill + Partners/ Stephens/ Sterne Agee/ Stifel Nicolaus Weisel.
NHBC is a bank holding company incorporated in the state of Delaware in June 2009. In October 2009, NBHC raised net proceeds of $974 million through a private offering of common stock.
Avoid for several reasons.
- Priced to high in terms of P/E ratio and Price-to-Interest Income Earned. Annualizing June 2012 six months the respective ratios are 124 and 4.5.
- 100% of the IPO proceeds allocated to selling shareholders.
NHBC is a bank holding company incorporated in the state of Delaware in June 2009.
In October 2009, NBHC raised net proceeds of $974 million through a private offering of common stock.
NBHC is executing a strategy to create long-term stockholder value through the acquisition and operation of community banking franchises and other complementary businesses in targeted markets.
FOUR ACQUISITIONS TO DATE
As of June 30, 2012, had $5.8 billion in assets, $4.5 billion in deposits and $1.1 billion in stockholders' equity. NBHC currently operates a network of 101 full-service banking centers, with the majority of those banking centers located in the greater Kansas City region and Colorado.
Since the fourth quarter of 2010, the beginning of NBHC's operating history, NGHC has been able to achieve profitability.
For the six months ended June 30, 2012, NBHC had a leading risk-adjusted operating performance for a bank of its size, as measured by placing in the top quartile rank among U.S. bank holding companies with $3 billion to $10 billion of total assets in terms of pre-tax pre-provision net revenue to risk weighted assets.
USE OF PROCEEDS
100% to selling shareholders.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.