08:48 AM EST, 02/07/2025 (MT Newswires) -- Northpointe Bancshares said in a regulatory filing Thursday it was launching an initial public offering of roughly 7.4 million of its common shares for between $16 to $18 apiece for net proceeds of approximately $116.1 million.

Some shareholders of Northpointe are also planning to offer an additional 1.5 million common shares in the offering, the Michigan-based bank holding company added in its Form S-1 with the US Securities and Exchange Commission.

The selling shareholders have provided a 30-day option to the underwriters to buy up to about 1.3 million additional company's common shares, Northpointe said, adding that it intends to use the net proceeds for general corporate purposes.

Northpointe said it has applied for its stock listing on the New York Stock Exchange under the "NPB" ticker.

This will be the first IPO of a US bank in 2025, Reuters reported Friday.