QNB CORP. ANNOUNCES COMPLETION OF OFFERING OF $40 MILLION OF SUBORDINATED NOTES
Q N B CORP (QNBC)
NASDAQ:AMEX Investor Relations:
qnb.com/cs/satellite/qnbqatar/en_qa/eninvestorrelation
Company Research
Source: GlobeNewswire
Quakertown, PA, Sept. 03, 2024 (GLOBE NEWSWIRE) -- QNB Corp. (the “Company” or “QNB”) (OTC Bulletin Board: QNBC), the parent company of QNB Bank (the “Bank”), announced today that the Company has completed a private placement (the “Offering”) of $40 million in aggregate principal amount of fixed-to-floating rate subordinated notes (the “Notes”). The Notes have been structured to qualify as Tier 2 capital under regulatory capital guidelines. The proceeds from the sale of the Notes will be utilized for general corporate purposes and potential future strategic opportunities. The offering size was increased due to oversubscription of nearly two-times. The Notes will initially bear interest at 8.875% per annum, from and including the original issue date of the subordinated notes to but excluding September 1, 2029, payable semi-annually in arrears. From September 1, 2029, through maturity or up to an early redemption date, the interest rate shall reset quarterly to an interest rate p
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News
- QNB Corp. Reports Earnings for Third Quarter 2024 [Yahoo! Finance]Yahoo! Finance
- QNB Corp. Reports Earnings for Third Quarter 2024GlobeNewswire
- QNB Corp. Declares Q3 2024 DividendGlobeNewswire
QNBC
Sec Filings
- 11/14/24 - Form SC
- 11/7/24 - Form 10-Q
- 10/22/24 - Form 8-K
- QNBC's page on the SEC website