By Devika Patel
Knoxville, Tenn., May 20 – Hyperion Bancshares, Inc. issued $11 million of 10-year fixed-to-floating rate subordinated notes in a private placement, according to a press release. Performance Trust Capital Partners was the agent.
The notes bear interest at a rate of 5.375% per year to but excluding July 1, 2026, payable semiannually in arrears.
From and including July 1, 2026 to the maturity date or any early redemption date, the interest rate on the notes will be reset quarterly to an interest rate per year equal to SOFR plus 472 basis points, payable quarterly in arrears.
Hyperion Bancshares is the Philadelphia-based holding company for Hyperion Bank.
Issuer: | Hyperion Bancshares, Inc.
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Issue: | Subordinated notes
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Amount: | $11 million
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Maturity: | May 31, 2031
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Coupon: | Initially 5.375%; beginning July 1, 2026, resets to SOFR plus 472 bps
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Call: | Callable after five years
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Agent: | Performance Trust Capital Partners
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Settlement date: | May 20
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Distribution: | Private placement
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