USCB Financial Holdings Inc. has announced the issuance of $40 million in 7.625% Fixed-to-Floating Rate Subordinated Notes due 2035. The notes, issued to qualified institutional buyers, will bear interest at a fixed rate of 7.625% per year until August 15, 2030, after which the interest rate will reset quarterly based on the three-month secured overnight financing rate $(SOFR)$ plus 422 basis points. The notes are redeemable on any interest payment date from August 15, 2030, and are intended to qualify as Tier 2 capital for regulatory purposes. Proceeds from the issuance are earmarked for general corporate uses, including potential balance sheet and capital optimization.
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