Premier Financial Corp. Announces Closing of $50 Million of Fixed-to-Floating Rate Subordinated Notes
September 30 2020 - 4:30PM
Business Wire
Premier Financial Corp. (NASDAQ: PFC) (“Premier” or the
“Company”) announced today the closing of its offering of $50.0
million aggregate principal amount of 4.00% fixed-to-floating rate
subordinated notes due 2030 (the “Notes”) in a private offering
exempt from the registration requirements under the Securities Act
of 1933, as amended (the “Securities Act”).
The net proceeds from the sale of the Notes are approximately
$48.75 million, after deducting the estimated offering expenses
payable by Premier. Premier intends to use the net proceeds from
the offering of the Notes for general corporate purposes.
Piper Sandler & Co. and Keefe, Bruyette & Woods, A
Stifel Company, acted as joint book-running managers for the
offering.
This press release is neither an offer to sell nor the
solicitation of an offer to buy any of the Notes and shall not
constitute an offer, solicitation or sale in any jurisdiction in
which such an offer, solicitation or sale would be unlawful.
About Premier Financial Corp.
Premier Financial Corp. (NASDAQ: PFC), headquartered in
Defiance, Ohio, is the holding company for Premier Bank and First
Insurance Group. Premier Bank, headquartered in Youngstown, Ohio,
operates 78 branches, 12 loan offices and 2 wealth offices in Ohio,
Michigan, Indiana, Pennsylvania and West Virginia (West Virginia
office operates as “Home Savings Bank”). First Insurance Group is a
full-service insurance agency with 10 offices in Ohio including
James & Sons Insurance in Youngstown, Ohio. For more
information, visit the company’s website at PremierFinCorp.com.
Safe Harbor Statement Under the Private Securities Litigation
Reform Act of 1995
The statements contained in this press release relating to the
offering of the Notes are forward-looking statements made pursuant
to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. These statements involve risks and
uncertainties that could cause actual results to differ materially
from those expressed in the Company’s forward-looking statements.
Forward-looking statements by their nature address matters that
are, to different degrees, uncertain. Particular uncertainties that
could cause the Company's actual results to be materially different
than those expressed in the Company's forward-looking statements
include, but are not limited to, the factors disclosed under
“Forward-Looking Statements” and “Risk Factors” in our Form 10-K
for the year ended December 31, 2019 and in our Forms 10-Q for the
quarterly periods ended March 31, 2020 and June 30, 2020, and other
filings with the Securities and Exchange Commission.
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version on businesswire.com: https://www.businesswire.com/news/home/20200930005921/en/
Paul Nungester EVP and CFO 419.785.8700
PNungester@first-fed.com
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