Business
Northpointe Bancshares, Inc. Announces Completion of $70 Million Subordinated Notes Offering
GRAND RAPIDS, Mich., December 09, 2025--Northpointe Bancshares, Inc. Announces Completion of $70 Million Subordinated Notes Offering
About this update from Northpointe Bancshares, Inc.
[{"type":"image","alt":"","displaySize":"","headline":null,"caption":"","credit":null,"className":"","disableSlideshowImg":false,"size":{"original":{"width":10000,"height":2500,"url":"https://media.zenfs.com/en/business-wire.com/ec6f5ce2fc4cf40aa8e98a187653bf61"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/pVjZJAsfJKDfeaM5HGxqEw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTI0MDtjZj13ZWJw/https://media.zenfs.com/en/business-wire.com/ec6f5ce2fc4cf40aa8e98a187653bf61","width":960,"height":240},"lightbox":{"url":"https://s.yimg.com/ny/api/res/1.2/3GdIwZIgdrfiK0Bmi_WBpw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTI0MDA7aD02MDA7Y2Y9d2VicA--/https://media.zenfs.com/en/business-wire.com/ec6f5ce2fc4cf40aa8e98a187653bf61","width":1200,"height":300}},"lazy":false},{"type":"text","content":"GRAND RAPIDS, Mich., December 09, 2025--(BUSINESS WIRE)--Northpointe Bancshares, Inc. (NYSE: NPB) ("Northpointe" or "Company"), the holding company for Northpointe Bank, today announced the completion of a private placement of $70,000,000 in aggregate principal amount of 7.50% Fixed-to-Floating Rate Subordinated Notes due 2035 (the "Notes"). Northpointe intends to use the net proceeds of the private placement to redeem its existing 8.25% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series A (the "Series A Preferred Stock"), and has notified the holders of the Series A Preferred Stock that Northpointe will be redeeming 100% of the Series A Preferred Stock effective December 30, 2025.","length":751,"tagName":"p"},{"type":"text","content":"The Notes will initially bear interest at a fixed interest rate of 7.50% per annum until December 15, 2030, with interest during this period payable semi-annually in arrears beginning June 15, 2026. From December 15, 2030, to the stated maturity date or early redemption date, the interest rate will reset quarterly to an annual floating rate equal to a benchmark rate, which is expected to be the then current Three-Month Term Secured Overnight Financing Rate ("SOFR") plus 424 basis points, with interest during this period payable in arrears beginning December 15, 2030. The Notes are redeemable by the Company, in whole or in part, on any interest payment date on or after December 15, 2030, and at any time upon the occurrence of certain events. The Notes have been structured to qualify as Tier 2 capi...