Guaranty Federal Bancshares, Inc. Announces Completion of $20 Million Subordinated Notes Offering
30 Luglio 2020 - 3:00PM
Guaranty Federal Bancshares, Inc. (NASDAQ: GFED) (the “Company”),
the parent company for Guaranty Bank, today announced the
completion of its offering of $20 million in fixed-to-floating rate
subordinated notes due 2030 (the “Notes”) to certain qualified
institutional buyers and accredited investors in a private
placement transaction. The Notes will initially bear interest at a
fixed annual rate of 5.25%, for five years and will reset quarterly
thereafter to the then current three-month SOFR plus 519 basis
points. The Company may redeem the Notes on or after September 30,
2025, or at any time upon certain other specified events. The Notes
have been structured to qualify initially as Tier 2 Capital for the
Company for regulatory purposes. The Company intends to use the net
proceeds of the offering for general corporate purposes.
Shaun A. Burke, President and Chief Executive Officer, stated,
“This capital raise is a cost-effective way to increase our
regulatory capital at an attractive interest rate without diluting
our current stockholders. We are very pleased with the support from
the investment community that resulted in the successful completion
of the offering.”
Performance Trust Capital Partners, LLC acted as placement agent
for the offering. Barack Ferrazzano Kirschbaum &
Nagelberg LLP served as legal counsel to the Company and Hunton
Andrews Kurth LLP served as legal counsel to the placement
agent.
About Guaranty Federal Bancshares,
Inc.
Guaranty Federal Bancshares, Inc. (NASDAQ:GFED)
has a subsidiary corporation offering full banking services. The
principal subsidiary, Guaranty Bank, is headquartered in
Springfield, Missouri, and has 16 full-service branches in Greene,
Christian, Jasper and Newton Counties and a Loan Production Office
in Webster County. Guaranty Bank is a member of the MoneyPass ATM
network which provides its customers surcharge-free access to over
32,000 ATMs nationwide. For more information visit the
Guaranty Bank website: www.gbankmo.com.
The Company may from time to time make written
or oral “forward-looking statements,” including statements
contained in the Company’s filings with the Securities and Exchange
Commission (the “SEC”), in its reports to stockholders and in other
communications by the Company, which are made in good faith by the
Company pursuant to the “safe harbor” provisions of the Private
Securities Litigation Reform Act of 1995. Words such as
“anticipates,” “estimates,” “believes,” “expects,” and similar
expressions are intended to identify such forward-looking
statements but are not the exclusive means of identifying such
statements.
These forward-looking statements involve risks
and uncertainties, such as statements of the Company’s plans,
objectives, expectations, estimates and intentions, that are
subject to change based on various important factors (some of which
are beyond the Company’s control). The following factors, among
others, could cause the Company’s financial performance to differ
materially from the plans, objectives, expectations, estimates and
intentions expressed in such forward-looking statements:
● the strength of the United States economy in general and the
strength of the local economies in which we conduct operations;●
the effects of the COVID-19 pandemic, including on our credit
quality and business operations, as well as its impact on general
economic and financial market conditions;● the effects of, and
changes in, trade, monetary and fiscal policies and laws, including
interest rate policies of the Federal Reserve, inflation, interest
rates, market and monetary fluctuations;● the timely development of
and acceptance of new products and services and the perceived
overall value of these products and services by users, including
the features, pricing and quality compared to competitors’ products
and services;● the willingness of users to substitute competitors’
products and services for our products and services;● our success
in gaining regulatory approval of our products and services, when
required;● the impact of changes in financial services laws and
regulations (including laws concerning taxes, banking, securities
and insurance);● technological changes;● the ability to
successfully manage and integrate any future acquisitions if and
when our board of directors and management conclude any such
acquisitions are appropriate;● changes in consumer spending and
saving habits;● our success at managing the risks resulting from
these factors; and● other factors set forth in reports and other
documents filed by the Company with the SEC from time to time.
Contacts: |
Shaun A. Burke, President and CEO or Carter M. Peters, CFO |
|
2144 E. Republic Road, Suite
F200 |
|
Springfield, MO 65804 |
|
1.833.875.2492 |
Grafico Azioni Guaranty Federal Bancsha... (NASDAQ:GFED)
Storico
Da Mag 2024 a Giu 2024
Grafico Azioni Guaranty Federal Bancsha... (NASDAQ:GFED)
Storico
Da Giu 2023 a Giu 2024