Proceeds support organic growth and general corporate purposes.
CHATTANOOGA, Tenn. Calder Financial Corporation, the holding company for Calder Bank & Trust, N.A., has completed a private placement of $75 million in fixed-to-floating rate subordinated notes due 2034.
The notes bear a fixed rate of 7.25 percent for the first five years, after which the rate resets quarterly. The notes are intended to qualify as tier two capital for regulatory purposes.
"This gives us room to keep lending through the cycle without pressuring the bank's capital ratios," said Margo Ballew, Executive Vice President and Chief Financial Officer. "We priced it in a window we liked and we were not in a hurry."
The notes were offered only to qualified institutional buyers and institutional accredited investors and have not been registered under the Securities Act of 1933.
Calder Bank & Trust, N.A. is a national banking association headquartered in Chattanooga, Tennessee, founded in 1913. The bank operates 61 offices across Tennessee, north Georgia and north Alabama and has approximately $4.0 billion in assets. It provides retail banking, commercial and treasury services, and wealth and trust administration. The bank is a wholly owned subsidiary of Calder Financial Corporation. Member FDIC. Equal Housing Lender.
There is no established public trading market for the common stock of Calder Financial Corporation. The stock is held by approximately 1,400 holders of record and is not listed on any exchange or quoted on any interdealer quotation system.
Lauren Pickett, Vice President and Director of Corporate Communications
(423) 555-0134 · lauren.pickett@calderbankonline.com