Financial Institutions lifts after $100 mln  stock offering priced

Dime Commercial Bancshares

12/12/2024 14:28

**  Shares of regional lender 
  
    ** Parent of New York state commercial bank, Five Star Bank,
late Weds  4 mln shares at $25, a 7.5% discount to last sale
  
    ** Co intends to use expected net offering proceeds of ~$95
mln for balance sheet restructuring through repositioning of
substantial portion of its 
  
    ** KBW sole bookrunner for offering
  
    
      
    
  
    ** Prior to offering, FISI had ~15.5 mln shares outstanding
for 
     $418 mln market cap
  
    ** Through Weds close, FISI shares up ~27% YTD. Stock's
52-week low is $16.29 (Apr 17) and 52-week high is $29.14 (Nov
25)
  
     

(Lance Tupper is a Reuters market analyst. The views expressed
are his own)
((lance.tupper@tr.com 1-646-279-6380))