County Bancorp, a Wisconsin bank focused on dairy-related lending with over $700 million of assets, filed on Monday with the SEC to raise up to $23 million in an initial public offering.
The company operates Investors Community Bank and owns two full service locations in Manitowoc and Stevens Point, along with loan production offices in Darlington, Eau Claire and Fond du Lac.
Banking IPOs have generally had muted performance this year, though the group's best performer is another Wisconsin Bank - Anchor BanCorp Wisconsin (ABCW) - and trades about 19% above the IPO price.
The Manitowoc, WI-based company, which was founded in 1996 and booked $30 million in net interest and noninterest income for the 12 months ended September 30, 2012, plans to list on the NASDAQ under the symbol ICBK. Baird and Sterne Agee are the joint bookrunners on the deal. No pricing terms were disclosed.
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