York Traditions Bank completes USD5m debt sale.
Global Banking News-April 2, 2015--York Traditions Bank completes USD5m debt sale
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Global Banking News - 02 April 2015
York Traditions Bank (OTC Pink: YRKB) has said that it has completed a USD5m aggregate principal amount of subordinated notes due March 27, 2025, with a 6.25 percent interest rate.
The notes include a right of prepayment on or after March 27, 2020, and qualify as Tier-II capital. The interest bearing notes represented a private placement with accredited institutional investors. The bank also announced the repayment of USD5.115m of preferred stock on March 31, 2015 issued in 2011 as part of the United States Treasury's Small Business Lending Fund (SBLF).
Headquartered in York, Pennsylvania, York Traditions Bank has over USD300m in assets and operates five branches across York County.
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