Northpointe Bancshares in Grand Rapids, Mich., is planning an initial public offering.
The $5.4 billion-asset company, in its registration statement, did not disclose how many shares it plans to sell or how much it expects to raise.
Northpointe said that some of the offering’s proceeds would be used to increase its on-balance sheet hold of mortgage purchase program loans. The company said it has funded more than $20 billion in volume in the past 12 months.
Proceeds could also be used to grow other business lines or redeem preferred stock.