People's Utah Bancorp prices IPO at $14.50, above the midpoint

People's Utah Bancorp, a Utah commercial bank with 18 branches and $1.4 billion in assets, raised $36 million by offering 2.5 million shares (9% insider) at $14.50, within the $13-$15 range. At its offer price, the company commands a fully diluted market value of $256 million. People's Utah Bancorp will list on the NASDAQ under the symbol PUB. D.A. Davidson acted as a lead manager on the deal.