Thu 10 am: Parent company of local bank raises $202.8M in IPO

TROY, Mich. – The initial public offering of about 15.6 million shares of stock at Talmer Bancorp., the parent company of local banks formerly known as First Place Bank, is set to close Friday.

So far, the financial company has raised approximately $202.8 million from the IPO. Shares were trading this morning on the NASDAQ, moments ago at $13.82 per share. They initially were priced at $13 per share, within the range estimated earlier at $12.50 to $14.50 per share.

Talmer the holding company for Talmer Bank and Trust, the new name for First Place Bank, along with Talmer West Bank offered 3.7 million shares. Certain selling stockholders offering 11.9 million shares.