TowneBank Announces Completion of Subordinated Notes Offering

Feb 09, 2022

SUFFOLK, Va., Feb. 09, 2022 (GLOBE NEWSWIRE) -- TowneBank (Nasdaq: TOWN) announced today the completion of its public offering and sale of $250 million of its 3.125% fixed-to-floating rate subordinated notes due 2032 (the “Notes”). The Notes were sold at par, resulting in net proceeds, after discounts and estimated offering expenses, of approximately $247 million.

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