Financing ·
FB Financial completes $125M sale of 6.625% fixed-to-floating subordinated notes due 2036
FBKFB Financial Corp
FB Financial Corporation completed the issuance and sale of $125,000,000 aggregate principal amount of its 6.625% Fixed-to-Floating Rate Subordinated Notes due 2036 on September 24, 2026. The notes were sold pursuant to an Underwriting Agreement with Keefe, Bruyette & Woods, Inc., and the company intends to use net proceeds for general corporate purposes, including providing capital to its wholly-owned banking subsidiary, FirstBank, to support growth. Interest accrues at a fixed rate of 6.625% per annum until October 1, 2031, after which it floats at Three-Month Term SOFR plus 205 basis points. The notes are unsecured, subordinated obligations with no sinking fund and may be redeemed starting October 1, 2031. FB Financial Corporation operates in the banking industry as a financial holding company.