CoBiz Financial (COBZ) in Denver plans to retire $21 million in debt.
The $2.7 billion-asset company is scheduled to retire the unsecured notes on Aug. 19, it said in a regulatory filing Tuesday. The notes pay 9% annually and can be redeemed without penalty after the fifth anniversary of their closing in August 2008. Cash on hand will fund the redemption.
CoBiz earned $7.3 million in the second quarter, up 18% from the same period in 2012. It plans to create a private bank and expand its branch network to Fort Collins and Colorado Springs, it said last month.