Commercial Bancgroup, a community bank with branches in Kentucky, North Carolina, and Tennessee, filed on Tuesday with the SEC to raise up to $173 million in an initial public offering.
Through its subsidiary Commercial Bank, the company operates as a full-service community bank with 34 banking offices and one loan production office across Kentucky, North Carolina, and Tennessee. Its primary service areas include the Nashville, Knoxville, and Tri-Cities MSAs and certain other counties in Tennessee, certain communities in Southeast Kentucky, and the Charlotte MSA in North Carolina. As of June 30, 2025, Commercial Bank had total consolidated assets of $2.3 billion, loans of $1.8 billion (net of allowance for credit losses), deposits of $1.9 billion, and total shareholders' equity of $235 million.
The Harrogate, TN-based company was founded in 1975 and booked $89 million in revenue for the 12 months ended June 30, 2025. It plans to list on the Nasdaq under the symbol CBK. Commercial Bancgroup filed confidentially on March 31, 2025. Hovde Group is the sole bookrunner on the deal. No pricing terms were disclosed.
