trending Market Intelligence /marketintelligence/en/news-insights/trending/-SJ9l2G98HwWQGAZyUGocQ2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Sunshine Bancorp completes $11M debt offering

Banking Essentials Newsletter December Edition Part 2

Banking Essentials Newsletter - November Edition

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts

Estimating Credit Losses Under COVID-19 and the Post-Crisis Recovery


Sunshine Bancorp completes $11M debt offering

Plant City, Fla.-based SunshineBancorp Inc., the parent company of Sunshine Bank, issued $11 million of subordinated notes toselected accredited investors, according to a March 30 news release.

George Parmer, a director of Sunshine Bancorp, purchased $7 millionin principal amount of the notes, through a corporation owned and controlled byhim.

The notes, which will mature April 1, 2021, carry a fixed interestrate of 5.0% per year, due on the 15th of January, April, July and October eachyear.

Furthermore, the company, subject to any required regulatoryapprovals, has the option to prepay the notes at any time. Sunshine Bancorp intendsto contribute most of the net proceeds to the bank, for its continued growth, includingongoing lending activities.