PCB News

Amalgamated Bank (AMAL) and Pacific City Financial (PCB), which went public last week, are both small commercial banks, but there the similarities...read more

The IPO market's very active summer 2018 has wrapped up. This week, four small IPOs got in before the annual August pause. Each priced below the midpoint to raise a combined $307 million. A regional airline, two regional banks, and biotech averaged a 0% return. Top performer Amalgamated Bank (AMAL) finished with a mere 6% gain, and the other three were negative....read more

Pacific City Financial, a California commercial bank primarily serving Korean-American communities, raised $48 million by offering 2.4 million shares at $20, the low end of the range of $20 to $22. Pacific City Financial plans to list on the Nasdaq under the symbol PCB. Keefe Bruyette Woods, Raymond James and Sandler O'Neill acted as lead managers on the deal....read more

A handful of small IPOs are set to price before the August break, with five raising less than $400 million. This week's largest deal is regional US carrier Mesa Air Group ($161 million), which operates flights on behalf of American and United. Two regional banks are also coming this week: New York-based Amalgamated Bank (AMAL) and...read more