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Pacific City Financial Priced, Nasdaq: PCB

California commercial bank primarily serving Korean-American communities.

Industry: Financials

Latest Trade: $11.09 0.00 (0.0%)

First Day Return: -0.1%

Return from IPO: -44.6%

Industry: Financials

We are Pacific City Financial, a registered bank holding company headquartered in Los Angeles, California. We provide a full suite of commercial banking services through our wholly owned subsidiary, Pacific City Bank, a California state chartered bank, to small to medium-sized businesses, individuals and professionals, primarily in Southern California, and predominantly in Korean-American and other minority communities. As of March 31, 2018, we had total assets of $1.6 billion, total deposits of $1.4 billion, total loans (including loans held-for-sale) of $1.2 billion and total shareholders' equity of $147 million. We are led by our President and CEO, Henry Kim, and we have used the experience and expertise of our board of directors, officers and employees to tailor our loan and deposit products to serve this Korean-American market niche. We have thirteen full service branch locations, eleven of which are located in California and one of which is located in each of New York and New Jersey. We also have ten loan production offices (LPOs) in our target markets in eight different states. We have established our branch and LPO network in major metropolitan areas with significant Korean-American populations.
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IPO News for Pacific City Financial
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IPO Data
IPO File Date 07/17/2018
Offer Price $20.00
Price Range $20.00 - $22.00
Offer Shares (mm) 2.4
Deal Size ($mm) $48
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
IPO Data
IPO Date 08/09/2018
Offer Price $20.00
Price Range $20.00 - $22.00
Offer Shares (mm) 2.4
Deal Size ($mm) $48
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
Underwriters
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Company Data
Headquarters Los Angeles, CA
Founded 2003
Employees 228
Website www.paccitybank.com