Wright City, MO – Evergreen Bancshares, Inc. (the Company), the holding company for American Bank of Missouri, recently completed an offering of $11.0 million in aggregate principal amount of 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 financial adviser and placement agent for this offering. Holland & Knight LLP served as the Company’s legal counsel in this offering.

The subordinated notes were issued on December 9, 2022 and will mature on December 1, 2032. The Notes will bear interest at an annual fixed rate of 7.50% per annum, payable semi-annually in arrears on June 1st and December 1st of each year from June 1, 2022 to December 1, 2027. From and including December 1, 2027 to December 1, 2032, 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 369 basis points, payable quarterly in arrears on March 1, June 1, September 1, and December 1 of each year.

“Our team was delighted to see the breadth of interest among investors in our bank. As a result, the amount of capital raised exceeded our expectations,” stated Tim Nash, President and CEO of American Bank of Missouri.

Evergreen Bancshares, Inc. is a bank holding company headquartered in Wright City, Missouri and is the holding company of American Bank of Missouri, a community bank established in 1880 that serves the community through 9 banking centers in the St. Louis metropolitan area and complementary markets. Additional information is available on the bank’s website at www.americanbankofmissouri.bank

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. The notes have been structured to qualify as Tier 2 capital for the Company for regulatory capital purposes.

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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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