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Stock impact report

Northpointe Bancshares, Inc. Announces Completion of $70 Million Subordinated Notes Offering

Northpointe Bancshares, Inc. (NPB) 
Company Research Source: Business Wire
GRAND RAPIDS, Mich.--(BUSINESS WIRE)--Northpointe Bancshares, Inc. (NYSE: NPB) (“Northpointe” or “Company”), the holding company for Northpointe Bank, today announced the completion of a private placement of $70,000,000 in aggregate principal amount of 7.50% Fixed-to-Floating Rate Subordinated Notes due 2035 (the “Notes”). Northpointe intends to use the net proceeds of the private placement to redeem its existing 8.25% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series A (the “Series A Preferred Stock”), and has notified the holders of the Series A Preferred Stock that Northpointe will be redeeming 100% of the Series A Preferred Stock effective December 30, 2025.The Notes will initially bear interest at a fixed interest rate of 7.50% per annum until December 15, 2030, with interest during this period payable semi-annually in arrears beginning June 15, 2026. From December 15, 2030, to the stated maturity date or early redemption date, the interest rate will res Show less Read more
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