secwatch.observer — SEC 8-K summary
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Issuer:     John Marshall Bancorp, Inc. (JMSB)
CIK:        0001710482
Form:       8-K
Filed at:   2022-06-15T23:59:59+00:00
Accession:  0001558370-22-010040
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

John Marshall Bancorp closes $25M subordinated note private placement, plans to redeem existing notes
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- $25M principal of 5.25% fixed-to-floating subordinated note due 2032 issued at par; net proceeds ~$24.6M.
- Proceeds to be used for general corporate purposes, including redeeming 5.75% notes due 2027 after July 15, 2022 call date.
- Note qualifies as Tier 2 capital; interest fixed at 5.25% through June 2027, then SOFR+245bp quarterly.
- Keefe, Bruyette & Woods acted as sole placement agent.
- Note is unsecured, subordinated obligation, junior to senior debt, not convertible or redeemable by holders.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1710482/000155837022010040/0001558370-22-010040-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1710482/000155837022010040/jmsb-20220615x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-22-010040

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