QNB Corp. closes $40M subordinated note offering at 8.875%, oversubscribed 2x

QNB CORP.

Issued $40M in 8.875% Fixed-to-Floating Rate Subordinated Notes due 2034; qualifies as Tier 2 capital.
Offering oversubscribed ~2x; proceeds for general corporate purposes and strategic opportunities.
Interest fixed at 8.875% through Aug 2029, then resets quarterly to 3-month SOFR + 545 bps.
Notes redeemable at company's option on or after Sept 1, 2029, subject to regulatory approval.
No shareholder dilution; management cites cost-effective capital to support future growth.

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