University Bancorp issues $25 million of subordinated notes in private placement

Bitget2026/09/29 21:40

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University Bancorp closed a USD 25 million private placement of Fixed-to-Floating Rate Subordinated Notes due 2036.
Net proceeds earmarked for general corporate purposes, including boosting bank subsidiary common equity, redeploying capital, or redeeming outstanding notes.
Notes pay 8.125% fixed for five years, then float quarterly at three-month SOFR plus 355 basis points.
Callable from Oct. 30, 2031 on any interest payment date, with earlier redemption permitted upon specified events.
A USD 25 million five-year forward interest rate swap at 4.70% fixes the second five years at 8.25%.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. University Bancorp Inc. published the original content used to generate this news brief via ACCESS Newswire (Ref. ID: 202609291740ACCESSWRNAPR_____1228822) on September 29, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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University Bancorp issues $25 million of subordinated notes in private placement

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