River City Bank (RCBC.US), the largest independent bank in Sacramento, California, sets IPO price at $48-51 per share, aiming to raise $136 millions.

According to Jinse Finance APP, River City Bank (RCBC.US), a commercial bank in California, USA, has recently announced the terms for its Nasdaq IPO. The Sacramento-based company plans to raise 136 million US dollars by issuing 2.75 million shares (all existing shares) at a price range of 48 to 51 US dollars per share. Based on the midpoint of the proposed offering price range, River City Bank’s market capitalization will reach 703 million US dollars. The company currently conducts limited trading in the OTCID market under the stock code RCBC.