BCB Bancorp issues $40M subordinated notes at 9.25% fixed rate, due 2034

BCB BANCORP INC

Notes carry 9.25% fixed rate for first 5 years, then SOFR + 582 bps quarterly.
Proceeds to refinance existing $33.5M subordinated debt and for general corporate purposes.
Notes rated BBB+ by Egan-Jones; intended to qualify as Tier 2 regulatory capital.
Offering placed privately with qualified institutional buyers; Piper Sandler as placement agent.
Redemption permitted on or after Sept 1, 2029, subject to regulatory approval.

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