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.
CONTACT: 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