Crazy Woman Creek Bancorp Incorporated (OTCPK:CRZY) announced the completion of a private placement of 5% fixed-to-floating rate subordinated notes due 2030 to a Wyoming bank for gross proceeds of $2,000,000 on August 18, 2020. The note will initially bear a fixed interest rate of 5% per year for five years and then reset quarterly to the three-month SOFR rate, plus a spread of 460 basis points, payable quarterly in arrears to the August 14, 2030 maturity. The company may redeem the note upon the end of the fixed rate period, or at any time upon certain other specified events. The company has issued securities pursuant to Regulation D to 1 investor.