County Bancorp, Inc. Announces Closing of Exchange Offer for its Subordinated Notes
September 17 2018 - 1:30PM
County Bancorp, Inc. (Nasdaq: ICBK) (the “Company”), the holding
company of Investors Community Bank, an agricultural and commercial
bank headquartered in Manitowoc, Wisconsin (the “Bank”), today
announced the closing of its offer to exchange $30.0 million of its
5.875% Fixed-to-Floating Rate Subordinated Notes due 2028, which
have been registered under the Securities Act of 1933 (the
“Exchange Notes”), for $30.0 million of its outstanding 5.875%
Fixed-to-Floating Rate Subordinated Notes due 2028, which were
issued in a previously announced private placement to certain
institutional investors (the “Original Notes”).
The exchange offer expired at 11:59 p.m., New York City time, on
September 14, 2018, with all $30.0 million in aggregate principal
amount of the Original Notes having been validly tendered in
exchange for an equal amount of Exchange Notes.
This press release does not constitute an offer to sell, or the
solicitation of an offer to buy, any security and will not
constitute an offer, solicitation or sale in any jurisdiction in
which such offering would be unlawful. A registration statement on
Form S-4 related to the exchange offer was declared effective by
the Securities and Exchange Commission on August 9, 2018. The
exchange offer was made only pursuant to the exchange offer
documents that were distributed to holders of the Original Notes,
including the prospectus, dated August 10, 2018, and the related
letter of transmittal.
About County Bancorp, Inc.
County Bancorp, Inc., a Wisconsin corporation and registered
bank holding company founded in May 1996, and its wholly-owned
subsidiary Investors Community Bank, a Wisconsin-chartered bank,
are headquartered in Manitowoc, Wisconsin. The state of
Wisconsin is often referred to as “America’s Dairyland,” and one of
the niches the Bank has developed is providing financial services
to agricultural businesses statewide, with a primary focus on
dairy-related lending. The Bank also serves business and
retail customers throughout Wisconsin, with a focus on northeastern
and central Wisconsin. Its customers are served from
full-service locations in Manitowoc, Appleton, Green Bay, and
Stevens Point and loan production offices in Darlington, Eau
Claire, Fond du Lac, and Sheboygan.
Investor Relations Contact Glen L. Stiteley EVP
- CFO, Investors Community Bank Phone: (920) 686-5658
Email: gstiteley@icbk.com
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