Quick Take
Pacific City Financial (PCB) intends to raise $50 million from the sale of its common stock in a U.S. IPO uplisting to the Nasdaq, according to an amended registration statement.
The firm operates as a bank holding company primarily focused on providing lending and related banking services to Korean-American and other underserved minority communities.
PCB is growing quickly and profitably; it has an expanded geographic and demographic approach compared to competitors such as OP Bancorp (OPBK).
Company & Business
The Los Angeles, California-based bank holding company was founded