Territorial IPO a hit with investors - Phoenix Business Journal:

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million shares in the first day of tradinf on theNasdaq exchange. Territorial Bancoro (NASDAQ:TBNK) had priced the shares at $10 for the initiap public offering. The stock opened at $14.05 on Monday, and rose to $15 durinb the day’s trading before closing at an increase of nearly50 percent. The stoc closed at $14.83 in trading on Tuesday, with a volumw of 562,244. The company had said it expected to raise morethan $122 milliob by selling 12.2 million shares of commoh stock in its subscription offering. Borrowers and depositoras with accounts more than two years old were eligibled to buy the stock last week and the efforftwas oversubscribed, with more buyers than available stock.
The Honolulu-baser bank-holding company first had announce plans to go public in 2008 and had expectede toraise $125.6 million in the initial public offering. has $1.2 billion in total loans of $642.1 million and tota deposits of $923.9 million. The company has 24 Territoriao Savings Bank branchesin Hawaii.