Bankers’ Bank Placement Agent for Emmetsburg Bank Shares Inc. for its $16 Million Subordinated Debt Offering
Madison, WI – Bankers’ Bank, is pleased to announce the completion of a $16.0 million private placement of fixed-to-floating rate subordinated notes for Emmetsburg Bank Shares, Inc. (the “Company”).
The notes have a maturity date of June 30, 2035, and carry a fixed rate of 7.50% for the first five years. Thereafter, the notes will pay interest at a floating rate, reset semi-annually, equal to the then current 6-month term Secured Overnight Financing Rate (“SOFR”) plus 320 basis points. The notes may be redeemed at the option of the Company, without penalty, on or after June 30, 2030.
Emmetsburg Bank Shares, Inc. plans to use the proceeds to redeem its outstanding $16.0 million in subordinated notes.
Bankers’ Bank, Madison, WI served as sole placement agent for the offering. Emmetsburg Bank Shares, Inc. was advised by Dickinson, Bradshaw, Fowler & Hagen, P.C.
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About Emmetsburg Bank Shares, Inc.
Emmetsburg Bank Shares, Inc. is the bank holding company for Iowa Trust & Savings Bank, an Iowa state-chartered bank with locations in Emmetsburg, Panora, Clive, and Sac City. With assets of $542.9 million as of March 31, 2025, Iowa Trust & Savings offers a range of deposit and loan products to individuals and businesses.
About Bankers’ Bank
Headquartered in Madison, WI, Bankers’ Bank is a bank-owned correspondent bank with offices in Chicago, Des Moines, Indianapolis and Columbus. Bankers’ Bank provides proprietary banking and technology solutions to more than 700 community banks in the Midwest. Bankers’ Bank offers diverse capital strategies to banks and holding companies through senior term, variable lines of credit, and subordinated debt structures.
This news release may contain certain forward-looking statements, either expressed or implied, which are provided to assist the reader in understanding anticipated future financial performance.
Contacts
Bankers’ Bank
Matt Hladio, EVP – Chief Commercial Banking Officer
Tom Underkofler, SVP – Chief Investment Officer
800.666.5595 Commercial Banking
800.955.4468 Investments