Howard Bancorp, Inc. Completes $25 Million Subordinated Debt Offering
Howard Bancorp, Inc. (HBMD)
US:NASDAQ Investor Relations:
howardbank.com/about-us/investor-relations
Company Research
Source: Business Wire
BALTIMORE--(BUSINESS WIRE)-- Howard Bancorp, Inc. (the “Company”) (Nasdaq: HBMD), the parent company of Howard Bank, today announced the completion of an offering of $25 million in aggregate principal amount of fixed-to-floating rate subordinated notes due December 6, 2028 (the “Notes”), to certain institutional accredited investors. The Company intends to use the net proceeds of the offering for general corporate purposes. “We are pleased to announce the successful completion of our subordinated debt offering and that we were able to consummate this transaction under favorable terms. It allows us to further strengthen our capital position, diversify our sources of capital and position us for continued growth in assets. We remain committed to the Greater Baltimore business community,” said Mary Ann Scully, Chairman and Chief Executive Officer of the Company. The Notes have been structured to qual
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