ALLENTOWN, Pa., Jan. 02, 2019 (GLOBE NEWSWIRE) -- Ambassador Financial Group, Inc. is pleased to announce the successful completion of an $8 million placement of subordinated debt for Quaint Oak Bancorp, Inc. (OTCQX: QNTO). The subordinated debt qualifies as Tier 2 capital at the holding company and was issued as a ten year fixed to float structure maturing in 2028 with a five year call option. It will have a coupon of 6.50% for the first five years floating thereafter at three month LIBOR plus 3.752%.
Ambassador Financial Group, Inc. is a FINRA registered broker-dealer which offers a comprehensive suite of strategic, customized solutions to community banks and thrifts nationwide, including balance sheet management, investment banking and capital markets services. Our recent successes include:
- Summit Financial Group, Inc. (WV) $25.5 million acquisition of Peoples Bankshares, Inc. (WV)
- Northwest Bancshares, Inc. (PA) $85.0 million acquisition of Union Community Bank (PA)
- Orrstown Financial Services, Inc. (PA) $32.4 million acquisition of Mercersburg Financial Corporation (PA)
- Riverview Financial Corporation (PA) $48.8 million merger with CBT Financial Corp. (PA)
- Mid Penn Bancorp, Inc. (PA) $59.1 million acquisition of The Scottdale Bank & Trust Company (PA)
- Old Line Bancshares, Inc. (MD) $40.7 million acquisition of Damascus Bank (MD)
- Riverview Financial Corporation (PA) $17.0 million private placement of equity
- NexTier, Inc. (PA) $2.3 million acquisition of Manor Bank (PA)
- Revere Bank (MD) $31.0 million private placement of subordinated debt
- Monona Bancshares, Inc. (WI)* $40.1 million acquisition of MCB Bankshares, Inc. (WI)
- Berkshire Hills Bancorp, Inc. (MA) $117.8 million acquisition of First Choice Bank* (NJ)
- Revere Bank (MD)* $65.1 million acquisition of Monument Bank (MD)
- DNB Financial Corporation (PA) $49.0 million acquisition of East River Bank (PA)
Ambassador’s clients are in bold.
*Ambassador provided a fairness opinion only
This announcement is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy securities.
Matthew T. Resch, CFA Managing Principal 610-351-1633 mresch@ambfg.com Robert J. Pachence, Jr. Managing Principal 610-351-1633 rpachence@ambfg.com Jack E. Payne, CFA, CFP Executive Vice President 610-351-1633 jpayne@ambfg.com Joshua A. Albright, CFA Senior Vice President 610-351-1633 jalbright@ambfg.com Ryan J. Walker Senior Vice President 610-351-1633 rwalker@ambfg.com
