J.P. MorganSecurities LLC was the top underwriter by deal value for bank commonequity offerings and debt offerings in the first quarter.
SNL Financial credited J.P. Morgan Securities with twocommon equity deals and $175.9 million in deal credit. It served as a book manageron Banc of California Inc.'s$80.9 million follow-onoffering completed in March,as well as Signature Bank's$319.4 million follow-onoffering completed in January.
Goldman SachsGroup Inc., which also served as a book manager in Signature Bank'sfollow-on offering, ranked second in terms of common equity offering deal valuein the first quarter, with $159.7 million in deal credit.
In debt offerings, J.P. Morgan Securities was creditedwith 14 deals and $8.07 billion in deal credit, which included its recent work asa book manager on JPMorgan Chase &Co.'s $1.10 billionsenior debt offering that closed in March.
Bank of AmericaMerrill Lynch took the top spot in terms of preferred equity offerings,with six offerings and $2.35 billion in deal credit. The underwriter is also creditedfor 12 debt offerings in the first quarter.
Keefe Bruyette& Woods Inc. was the only underwriter for thrift mutual conversionsand initial public offerings during the first quarter. The subsidiaryserved as selling agent for the mutual conversion IPOs of PB Bancorp Inc., $36.3 million, and CentralFederal Bancshares Inc., $17.2million, which were both completed in January.
SNL Financial is an offeringof S&P Global Market Intelligence