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TriState Capital completes preferred stock offering

TriState Capital Holdings Inc. on May 29 completed its preferred stock offering.

The company issued 2.8 million depositary shares, each representing a 0.025 interest in its 6.375% fixed- to floating-rate series B noncumulative perpetual preferred stock. TriState Capital granted the underwriters an option to purchase up to an additional 420,000 depositary shares.

Keefe Bruyette & Woods Inc. and Raymond James & Associates Inc. were joint book-running managers, while B. Riley FBR, Boenning & Scattergood Inc. and Stephens Inc. were the co-managers.