Great Southern Bancorp in Springfield, Mo., has issued $50 million in subordinated debt.
The $4.3 billion-asset holding company said in a press release Monday that the fixed- to floating-rate subordinated notes are due in 2026.
It said proceeds from the offering will be used for general corporate purposes that include capital contributions to its subsidiary Great Southern Bank to support organic growth and potential acquisitions.
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Three banks have redeemed shares of preferred stock to make their exits from the Small Business Lending Fund.
December 18 -
Eagle Bancorp in Bethesda, Md., has issued $150 million in subordinated debt after increasing the amount it originally planned to sell.
July 22 -
Community banks are stepping up efforts to raise cheap capital to fuel loan growth, make acquisitions and redeem pricier sources of funds.
July 6
Sandler O'Neill is underwriting the offering.
In December Great Southern redeemed roughly $58 million in preferred stock to exit the Small Business Lending Fund, after the company was issued the shares in 2011.
