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First Bank Financial Centre parent issues $12M in subordinated debt

Oconomowoc,Wis.-based Oconomowoc BancsharesInc. completed an issuance of $12.0 million in subordinated debt,according to a Nov. 18 press release by placement agent Ambassador FinancialGroup.

OconomowocBancshares is the parent of FirstBank Financial Centre.

AmbassadorFinancial noted that the subordinated debt qualified as Tier 2 capital at the holdingcompany level, and that it was set to mature in 2025 and was noncallable forfive years.