Ambassador Financial Group, Inc. Announces $31 Million Placement of Subordinated Debt on Behalf of Revere Bank
(firmenpresse) - ALLENTOWN, PA -- (Marketwired) -- 09/27/16 -- today announced the successful completion of a $31 million placement of subordinated debt for Revere Bank. The subordinated debt security is rated BBB- by KBRA and qualifies as Tier 2 capital at the bank. The security was issued as a ten year fixed to float structure maturing in 2026 with a five year call option. It will have a coupon of 5.625% for the first five years floating thereafter at three month LIBOR plus 4.409 percent.
Revere Bank, based in Laurel, is a Maryland state-chartered bank established in 2007. Revere recently announced the pending acquisition of Monument Bank (MD) which is expected to close in the 3rd or 4th quarter of 2016. The pro forma combined institution will have assets of approximately $1.8 billion.
Ambassador Financial Group is a FINRA registered broker-dealer which offers a comprehensive suite of strategic, customized solutions to community banks and thrifts nationwide, including balance sheet management, investment banking, and capital markets services. Our recent successes include:
Monona Bankshares, Inc. (WI)* proposed acquisition of MCB Bankshares, Inc. (WI)
Berkshire Hills Bancorp, Inc. (MA) $111.7 million proposed acquisition of First Choice Bank* (NJ)
Revere Bank (MD)* $65.1 million proposed acquisition of Monument Bank (MD)
DNB Financial Corporation (PA) $49.0 million proposed acquisition of East River Bank (PA)
Merchants and Manufacturers Bank Corporation (IL) $4.0 million private placement of subordinated debt
Riverview Financial Corporation (PA) $7.8 million acquisition of Citizens National Bank of Meyersdale (PA)
Eagle National Bancorp, Inc. (PA) $25.3 million acquisition by ESSA Bancorp, Inc. (PA)
Old Line Bancshares, Inc. (MD) $6.6 million acquisition of Regal Bancorp, Inc. (MD)
Juniata Valley Financial Corporation (PA) $13.2 million acquisition of FNBPA Bancorp, Inc. (PA)
Kinderhook Bank Corp. (NY) $10 million private placement of subordinated debt
Oconomowoc Bancshares, Inc. (WI) $12 million private placement of subordinated debt
Pathfinder Bancorp, Inc. (NY) $10 million subordinated loan agreement
Nicolet Bankshares, Inc. (WI) $12 million private placement of subordinated debt
*Ambassador provided a fairness opinion only.
This announcement is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy securities.
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Datum: 27.09.2016 - 09:48 Uhr
Sprache: Deutsch
News-ID 1460622
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