SOURCE: First Bank

First Bank

November 20, 2013 15:33 ET

First Bank Closes Initial Public Offering

HAMILTON, NJ--(Marketwired - November 20, 2013) - First Bank (NASDAQ: FRBA) -- First Bank (the Bank) announced today that it closed its initial public offering of common stock, raising approximately $23.0 million, before underwriting discounts, commissions and expenses. At the closing, the underwriters exercised their option to purchase an additional 500,000 shares of common stock at the initial public offering price to cover over-allotments. The Bank issued a total of 3,833,334 shares of common stock at $6.00 per share. 

Robert W. Baird & Co. Incorporated served as sole book-running manager and CV Brokerage, Inc. served as co-manager for the offering.

First Bank's common stock trades on the NASDAQ Global Market under the symbol "FRBA."

A registration statement relating to these securities has been filed with and declared effective by the Federal Deposit Insurance Corporation. The initial public offering was made only by means of a final offering circular. Copies of the final offering circular covering these securities, when available, may be obtained by contacting Robert W. Baird & Co. Incorporated, Attention: Syndicate Department, 777 E. Wisconsin Avenue, Milwaukee, WI 53202, E-mail: syndicate@rwbaird.com.

The public offering is the latest in a number of major developments for the growing bank over past few months. First Bank opened a new Somerset branch in September; announced the pending acquisition of Heritage Community Bank of Randolph, New Jersey through which the Bank will acquire its three Morris County branches; and issued strong quarterly reports for the second and third quarters of this year, with an increase in loans, deposits and assets.

{This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction.}

About First Bank

First Bank (www.firstbanknj.com) is a New Jersey, state-chartered bank with five full-service branches in Ewing, Hamilton, Lawrence, Somerset and Williamstown, New Jersey. With $426 million in assets as of September 30, 2013, First Bank offers a traditional range of deposit and loan products to individuals and businesses. 

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