Springfield, MO Ozarks Heritage Financial Group, Inc., the holding company for Legacy Bank & Trust Company, sold $29.5 million in subordinated notes to qualified institutional investors through a private placement offering.  The Company intends to use the net proceeds from the offering to support future growth and for general corporate purposes.

Brean Capital, LLC served as the sole placement agent for this offering. Stinson LLP served as the Company’s legal counsel in this offering.

The subordinated notes were issued on December 21, 2022 and will mature on January 1, 2033. The Notes bear interest at an annual fixed rate of 7.25% and are payable semi-annually in arrears on January 1st and July 1st of each year from July 1st, 2023 to January 1, 2028. From and including January 1, 2028 to January 1, 2033, interest will accrue at a floating rate per annum equal to a benchmark rate, which is expected to be Three-Month Term SOFR (as defined in the subordinated notes), plus a spread of 357 basis points, payable quarterly in arrears on January 1, April 1, July 1, and October 1 of each year.

“We are quite pleased with the execution of this transaction. Our mission as a CDFI is to stimulate economic job growth by financing local businesses, creating jobs and rebuilding neighborhoods.  This additional debt capital will assist in the execution of our mission” stated John Everett, CEO of Legacy Bank & Trust Company.

Ozarks Heritage Financial Group, Inc., headquartered in Springfield, Missouri, is the holding company for Legacy Bank & Trust Company. Since 1907, Legacy Bank & Trust Company has strived to serve as the financial leader in economic and community development by providing financial products and services both in Missouri and across the United States. The Bank is proud to be a CDFI (Community Development Financial Institution) operating five full-service branches across Southcentral Missouri and one branch in Oklahoma.  Additional information is available on the bank’s website at https://www.legacybankandtrust.com/

Brean Capital’s Investment Banking Group is dedicated to helping its clients achieve their strategic and financial goals. For more than 40 years, the Firm has specialized in providing capital raising, M&A and financial advisory services to middle market businesses. Throughout its history, Brean Capital has established a track record of providing its clients with deep market knowledge, commitment and experience to ensure a successful transaction.  For more information, please visit: website.

This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering would be unlawful. The above referenced securities offered and sold by the Company have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold absent registration or an exemption from registration.

Contact the team
Interested to learn more and see how Brean Capital can help your business? Contact the team below:

Managing Director
(212) 702-6614

Managing Director
(212) 655-4869

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