First Choice Bank prices $25 million common shares at $15.50

Agents Hovde and FIG Partners help sell 1,612,904 shares in financing

By Devika Patel

Knoxville, Tenn., June 9 – First Choice Bank said it priced a $25 million offering of stock with a $5 million greenshoe.

The company will sell 1,612,904 common shares at $15.50 per share. The price per share is a 7.27% premium to $14.45, the June 8 closing share price.

Hovde Group, LLC is the lead agent, and FIG Partners, LLC is the co-placement agent.

The bank is based in Cerritos, Calif.

Issuer:	First Choice Bank
Issue:	Common stock
Amount:	$25 million
Greenshoe:	$5 million, or 322,581 shares
Shares:	1,612,904
Price:	$15.50
Warrants:	No
Agents:	Hovde Group, LLC (lead) and FIG Partners, LLC (co-placement agent)
Pricing date:	June 9
Stock symbol:	OTCBB: FCBK
Stock price:	$14.45 at close June 8
Market capitalization:	$69.29 million

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