Isabella Bank Corporation Completes $30 Million Subordinated Notes Offering
MT. PLEASANT, Mich., June 2, 2021 /PRNewswire/ — Isabella Bank Corporation (OTCQX:ISBA) today announced the completion of its private placement of $30.0 million in aggregate principal amount of 3.25% Fixed-to-Floating Rate Subordinated Notes due 2031 (the “Notes”) to various institutional investors (the “Offering”). The price for the Notes was 100% of the principal amount of the Notes. The Notes are intended to qualify as Tier 2 capital for regulatory purposes. The Corporation intends to utilize…
