Northpointe Bancshares closes $70M subordinated note offering to redeem 8.25% preferred stock

NORTHPOINTE BANCSHARES INC

Issued $70M in 7.50% Fixed-to-Floating Rate Subordinated Notes due 2035 to institutional buyers.
Interest fixed at 7.50% through Dec 15, 2030, then resets quarterly to SOFR + 424 bps.
Proceeds (plus cash on hand) will redeem all outstanding 8.25% Series A Perpetual Preferred Stock on Dec 30, 2025.
Notes structured to qualify as Tier 2 regulatory capital; Piper Sandler and KBW acted as placement agents.

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