FB Financial, a Tennessee bank with 45 branches and $2.9 billion in assets, announced terms for its IPO on Tuesday.
The Nashville, TN-based company plans to raise $100 million by offering 5.9 million shares at a price range of $16 to $18. At the midpoint of the proposed range, FB Financial would command a fully diluted market value of $421 million.
FB Financial was founded in 1906 and booked $224 million in sales for the 12 months ended June 30, 2016. It plans to list on the NYSE under the symbol FBK. J.P. Morgan, UBS Investment Bank and Keefe Bruyette Woods are the joint bookrunners on the deal. It is expected to price during the week of September 12, 2016.
