Citizens Community Bancorp issues $35M subordinated notes at 4.75% fixed rate, Tier 2 capital treatment

Citizens Community Bancorp Inc.

Issued $35M aggregate principal of 4.75% fixed-to-floating subordinated notes due 2032.
Fixed rate of 4.75% through March 2027; thereafter SOFR plus 329 bps, paid quarterly.
Notes qualify as Tier 2 regulatory capital, subject to limitations.
Dividend and stock repurchase restrictions apply during an event of default under the note agreement.
Co-placement agents: Janney Montgomery Scott and Hovde Group.

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