USAmeriBancorp in Clearwater, Fla., has completed a private placement to institutional investors of $45 million in subordinated notes.
The notes mature April 1, 2026, and are non-callable for five years. They will bear interest at a fixed rate of 6.25% for five years and then move to a floating rate based on the three-month Libor plus 4.945%.
The debt is structured to qualify at Tier 2 capital and holds a BBB- rating from Kroll Bond Rating Agency.
-
Joseph Chillura, CEO of the $3.5 billion-asset USAmeriBank, runs a privately held company that should be an ideal candidate for industry consolidation. While trying to keep an open mind, Chillura seems intent on staying on the sidelines as other Florida banks strike deals.
January 7 -
The $1.3 billion-asset Westfield said in a press release Monday that it will pay $110 million, or $20.42 a share, in stock for the $800 million-asset Chicopee.
April 4 -
United Community Banks in Blairsville, Ga., has agreed to buy Tidelands Bancshares in Mt. Pleasant, S.C., for $2.2 million in cash, or 52 cents a share.
April 4
USAmeriBancorp said in a news release Monday that it plans to use the processed from the private placement for growth initiatives, the partial redemption of preferred stock and general corporate purposes.
