On February 7, Northpointe Bancshares announced its ambition to reach a valuation of up to $595 million in its initial public offering in the United States. The Grand Rapids, Michigan-based community bank plans to offer 7.4 million shares, with existing shareholders also selling 1.5 million shares priced between $16 and $18 each, aiming to raise a total of $159 million.
The IPO is timed opportunistically within a positive outlook for the banking sector under the new Republican administration in the U.S., with analysts foreseeing 2025 as a potential prosperous period for the industry.
Northpointe will be listed on the New York Stock Exchange using the symbol "NPB", with Keefe, Bruyette & Woods, Piper Sandler, and Janney Montgomery Scott acting as underwriters for the offering.