Independent Banker - August 2018 - 63
PUBLIC
INTEREST
Is your community bank ready to be traded on the
Nasdaq? Here are the stories and words of wisdom
from community banks who've made the leap
from private to public.
By Kelly Pike
W
hen Royal Business Bank and its parent, RBB Bancorp, considered going
public early in 2016, they quickly ruled out the idea. The market wasn't
right for them.
One year later, it was a different story. The $1.7 billion-asset Los
Angeles bank went public in July 2017 under the stock symbol RBB,
raising $86 million. Offered at $23 per share, as of June 1 it was trading at nearly $31.
" The economic environment became such that it was advantageous for us to go
public, " says David R. Morris, executive vice president and chief financial officer.
Royal Business Bank is not alone. Despite industry consolidation, the number of
community bank initial public offerings (IPOs) has remained steady since 2015, with
six or seven IPOs per year, according to Joe Brantuk, vice president of listings at
Nasdaq. This year, Nasdaq expects that figure to jump to 10, including two alreadycompleted
offerings and eight in the pipeline.
There are several reasons for the increase. Rate hikes and tax cuts have made bank
stocks more attractive, and the regulatory environment is more accommodating.
Lending is robust. Consolidation has left some markets underserved, creating
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Independent Banker - August 2018
Table of Contents for the Digital Edition of Independent Banker - August 2018
Table of Contents
Independent Banker - August 2018 - Intro
Independent Banker - August 2018 - Cover1
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