Business
Oak View Bankshares, Inc. Completes $10 Million Subordinated Notes Offering
WARRENTON, VA / ACCESS Newswire / October 20, 2025 / Oak View Bankshares, Inc. (the "Company") (OTCID:OAKV), parent company of Oak View National Bank (the "Bank"), announced it has completed a private placement of $10 million of 7.0% fixed-to-floating ...
About this update from Oak View Bankshares Inc.
[{"type":"text","content":"WARRENTON, VA / ACCESS Newswire / October 20, 2025 / Oak View Bankshares, Inc. (the "Company") (OTCID:OAKV), parent company of Oak View National Bank (the "Bank"), announced it has completed a private placement of $10 million of 7.0% fixed-to-floating rate subordinated notes due October 17, 2035 (the "Notes") to certain qualified institutional buyers and institutional accredited investors (the "Private Placement"). The Company intends to use the net proceeds from the Private Placement for general corporate purposes.","length":561,"tagName":"p"},{"type":"text","content":"The Notes will initially bear interest at 7.00% per year, from and including October 17, 2025, to but excluding October 17, 2030, payable semi-annually in arrears. From October 17, 2030, through maturity or early redemption, the interest rate will reset quarterly to an interest rate equal to three-month term SOFR plus 361 basis points, payable quarterly in arrears. On or after the fifth anniversary of the original issue date through maturity, the Company has the option to redeem the Notes, in whole or in part, on any scheduled interest payment date. The Company may also redeem the Notes in whole at any time following certain specified events. The Notes will mature on October 17, 2035, unless earlier redeemed.","length":718,"tagName":"p"},{"type":"text","content":"Michael A. Ewing, Chairman and Chief Executive Officer of the Company, commented, "We are thrilled to have the support of an investor group who subscribed to our offering at an attractive pricing level."","length":213,"tagName":"p"},{"type":"text","content":"Performance Trust Capital Partners, LLC served as sole placement agent. Williams Mullen served as legal counsel to the Company. Troutman Pepper Locke LLP served as legal counsel to the placement agent.","length":201,"tagName":"p"},{"type":"text","content":"About Oak View Bankshares, Inc. and Oak View National Bank","length":58,"tagName":"p"},{"type":"text","content":"Oak View Bankshares, Inc. is the parent bank holding company for Oak View National Bank, a locally owned and managed community bank serving Fauquier, Culpeper, Rappahannock, and surrounding counties. For more information about Oak View Bankshares, Inc. and Oak View National Bank, please visit our website at www.oakviewbank.com. Member FDI...