Mortgage institution Northpointe Bancshares submitted an IPO application for the US stock market, aiming to raise $201 million
Northpointe Bancshares submitted its initial public offering (IPO) application to the U.S. Securities and Exchange Commission on Thursday, planning to list on the New York Stock Exchange under the ticker symbol NPB, aiming to raise $201 million. The company was founded in 1999, initially focusing on mortgages, and has since evolved into a national financial institution offering a variety of financial services. For the 12 months ending September 30, 2024, revenue reached $175 million
According to the Zhitong Finance APP, Northpointe Bancshares (NPB.US), headquartered in Grand Rapids, Michigan, submitted its initial public offering (IPO) application to the U.S. Securities and Exchange Commission (SEC) on Thursday, planning to list on the New York Stock Exchange under the ticker symbol NPB. The company aims to raise up to $201 million through this IPO.
Founded in 1999, Northpointe Bancshares initially focused on a mortgage loan portfolio, primarily operating in the Midwest regions such as Michigan, Ohio, and Indiana.
Today, the bank has evolved into a national financial institution, offering services including a national mortgage purchase program, residential mortgages, digital deposit banking for retail customers, and custodial deposit services for loan servicing clients. Its business delivery system is primarily digital, with loan production offices in 23 cities across 15 states, serving customers in all 50 states and Washington, D.C.
For the 12 months ending September 30, 2024, Northpointe Bancshares reported revenue of $175 million. The company confidentially submitted its listing application to the SEC on December 20, 2024, with Keefe Bruyette Woods serving as the exclusive underwriter for the transaction. The pricing terms for the IPO have not yet been disclosed