National Commerce in Birmingham, Ala., has issued $25 million in subordinated debt.
The $1.7 billion-asset company said in a press release Friday that it received $24.6 million in proceeds from issuing unsecured fixed-to-floating-rate notes. The notes are due in June 2026. National Commerce said it plans to use the funds raised to finance growth and investments, or to buy banks and nonbanks.
Keefe, Bruyette & Woods served as underwriter for the offering.