Dairy bank seeks cheddar: County Bancorp sets terms for $20 million IPO

County Bancorp, a Wisconsin bank focused on dairy-related lending with over $700 million of assets, announced terms for its IPO on Friday. The Manitowoc, WI-based company plans to raise $20 million by offering 1.2 million shares (12% insider) at a price range of $16 to $18. At the midpoint of the proposed range, County Bancorp would command a fully diluted market value of $94 million.

County Bancorp, which was founded in 1996 and booked $30 million in sales for the 12 months ended September 30, 2014, plans to list on the NASDAQ under the symbol ICBK. Baird and Sterne Agee are the joint bookrunners on the deal. It is expected to price during the week of January 12, 2015.