Northpointe Bancshares Inc.
| General Information | |
| Business: | We are a bank holding company headquartered in Grand Rapids, Michigan, and registered under the Bank Holding Company Act of 1956, as amended (the “BHC Act”). (Incorporated in Michigan)
We operate our business primarily through our wholly-owned banking subsidiary, Northpointe Bank. We emphasize to our employees and clients that our specialized business lines differentiate us as a business that has the added benefit of being a bank. Our Bank was founded in 1999 as a focused mortgage portfolio lender primarily operating in the Midwestern states of Michigan, Ohio and Indiana. Since then, we have evolved, and our business now offers a nationwide mortgage purchase program, residential mortgage loans, digital deposit banking to our retail customers and custodial deposit services to our loan servicing clients, which we believe is unique for a bank. We believe we are recognized in the market for the methods we utilize to acquire new borrowers and for our ability to provide simple, fast, and trusted digital solutions to borrowers in the mortgage banking marketplace. Our delivery systems are primarily digital and are available to clients nationwide; and we provide our staff with loan production offices across 23 cities in 15 states and support them through our centralized operating center in Grand Rapids, Michigan. Our nationwide presence has enabled us to have clients in all 50 states and the District of Columbia.
As of Sept. 30, 2024, we had $5.4 billion in assets, $4.8 billion in gross loans, including held for investment (“HFI”) and held for sale (“HFS”), $3.5 billion of deposits and $454.8 million of stockholders’ equity. We have originated more than $190 billion in home loan financings over the last 10 years.
Note: Net income and revenue are for the 12 months that ended Sept. 30, 2024.(Note: Northpointe Bancshares Inc. upsized its IPO to 10.42 million shares – up from 8.82 million shares – and priced its IPO at $14.50 – down $1.50 from $16.00, the low end of its $16.00-to-$18.00 price range – to raise $151.09 million, on Thursday night, Feb. 13, 2025. Of the 10.42 million shares, Northpointe Bancshares offered 8.62 million shares and the selling stockholders offered another 1.8 million shares.)(Note: Northpointe Bancshares Inc. disclosed terms for its IPO – 8.82 million shares at a price range of $16.00 to $18.00 to raise $149.94 million – in an S-1/A filing dated Feb. 6, 2025. Of the 8.82 million shares in the IPO, Northpointe Bancshares Inc. is offering 7.35 million shares (7,352,942 shares) and the selling stockholders are offering another 1.47 million shares (1,470,590 shares). Northpointe Bancshares will not receive any proceeds from the sale of the selling stockholders’ shares, according to the prospectus.)
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| Industry: | Banking |
| Employees: | 541 |
| Founded: | 1999 |
| Contact Information | |
| Address | 3333 Deposit Drive Northeast Grand Rapids, Michigan 49546 |
| Phone Number | (616) 940-9400 |
| Web Address | http://www.northpointe.com/ |
| View Prospectus: | Northpointe Bancshares Inc. |
| Financial Information | |
| Market Cap | $502.28mil |
| Revenues | $175.79 mil (last 12 months) |
| Net Income | $45.83 mil (last 12 months) |
| IPO Profile | |
| Symbol | NPB |
| Exchange | NYSE |
| Shares (millions): | 10.4 |
| Price range | $14.50 - $14.50 |
| Est. $ Volume | $151.1 mil |
| Manager / Joint Managers | Keefe, Bruyette & Woods (A Stifel Company) |
| CO-Managers | Piper Sandler/Janney Montgomery Scott |
| Expected To Trade: | 2/14/2025 |
| Status: | Priced |
| Quiet Period Expiration Date: | Available only to Subscribers |
| Lock-Up Period Expiration Date: | Available only to Subscribers |
| SCOOP Rating | Available only to Subscribers |
| Rating Change | Available only to Subscribers |