Birmingham, Ala.-based National Commerce Corp. closed its underwritten public common stock offering of 1,104,000 shares priced at $37 per share, according to a June 12 press release.

Gross proceeds for the offering were roughly $40.8 million, while net proceeds were approximately $38.7 million.

Underwriters fully exercised their option to purchase up to an additional 144,000 shares.

Keefe Bruyette & Woods acted as the sole book-running manager for the offering, while Raymond James & Associates Inc. and Stephens Inc. served as co-managers.