Northpointe Bancshares issues $20M subordinated note at 7.50% fixed rate due 2036

NORTHPOINTE BANCSHARES INC

Sold $20.0M 7.50% Fixed-to-Floating Rate Subordinated Note due March 15, 2036 to an institutional accredited investor.
Note bears 7.50% fixed rate through March 15, 2031, then resets quarterly at 3-month SOFR plus 415 bps.
Proceeds used for general corporate purposes; note intended as Tier 2 capital for regulatory purposes.
Note is unsecured, subordinated to senior debt, and redeemable in whole or part on or after March 15, 2031.
The offering was conducted as a private placement under Section 4(a)(2) and Rule 506(b) of Regulation D.

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