By Lisa Kerner
Charlotte, N.C., Nov. 15 - ServisFirst Bancshares, Inc. agreed to sell $20 million of 5.5% subordinated notes due Nov. 9, 2022.
The company issued $18.6 million of the notes, and expects to issue the remaining $1.4 million promptly on receipt of payment.
ServisFirst can call the notes at par starting Nov. 9, 2015.
Proceeds were used to redeem the company's outstanding 8.5% trust preferred securities issued by ServisFirst Capital Trust I.
Based in Birmingham, Ala. ServisFirst Bancshares is a bank holding company.
| Issuer: | ServisFirst Bancshares, Inc.
|
| Issue: | Subordinated notes
|
| Amount: | $20 million
|
| Maturity: | Nov. 9, 2022
|
| Coupon: | 5.5%
|
| Price: | Par
|
| Call: | Nov. 9, 2015 onwards at par
|
| Distribution: | Regulation D
|
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