By Lisa Kerner
Charlotte, N.C., Nov. 18 – Oconomowoc Bancshares, Inc., the bank holding company of First Bank Financial Centre, completed a $12 million private placement of subordinated debt through Ambassador Financial Group, Inc.
The debt is due in 2025 and is non-callable for five years, according to a news release.
“Strengthening our capital structure will better position Oconomowoc for future growth,” president and chief executive officer Mark W. Mohr said in the news release.
The company is based in Oconomowoc, Wisc.
| Issuer: | Oconomowoc Bancshares, Inc.
|
| Issue: | Subordinated debt
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| Amount: | $12 million
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| Maturity: | 2025
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| Call option: | After five years
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| Distribution: | Private placement
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