FILE PHOTO: The Nasdaq logo is displayed at the Nasdaq Market site in Times Square in New York City, U.S., December 3, 2021. REUTERS/Jeenah Moon/File Photo

(Reuters) -Commercial Bancgroup said on Monday it plans to raise up to $104 million through an initial public offering, in what would be a rare listing by a U.S. bank.

WHY IT MATTERS

U.S. bank IPOs have become sparse since the 2008 financial crisis, as stricter regulations, higher compliance costs and volatile market conditions have made public listings less attractive.

Instead, many lenders have turned to private capital raises or pursuing mergers as more efficient paths to growth.

BY THE NUMBERS

Commercial Bancgroup and some of its existing investors are offering roughly 3.7 million shares priced between $25.75 and $27.75 each.

A listing would value the company at roughly $366 million at the top-end of the proposed price range, according to a regulatory filing.

The Tennessee-based bank had total assets of $2.8 billion, as of June 30. It posted total loans of $1.8 billion during the same period, its IPO prospectus showed.

CONTEXT

The 2025 IPO market, following a years-long slump, presents a unique window for issuers across sectors to test investor appetite, analysts have said.

Banking and insurance remain especially attractive, as they are largely insulated from short-term tariff risks, with core operations not directly affected by short-term fluctuations of import or export prices.

WHAT'S NEXT

The company is aiming to trade on the Nasdaq under the ticker symbol "CBK" after the offering closes.

(Reporting by Manya Saini in Bengaluru; Editing by Shilpi Majumdar)