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Towerbank International to offer securities worth $3.9M

Towerbank International Inc. on Dec. 21 will offer negotiable commercial securities for up to $3.9 million.

The series Y notes, which will be issued Dec. 26, have a maturity of 180 days and a 3.25% interest rate.

Proceeds from the offering will be used to finance the growth of the issuer's loan portfolio.

The offering is part of the bank's $20.0 million revolving program for the public offering of negotiable commercial securities.