Garden Grove, California: April 14, 2025: US Metro Bancorp (OTCQX: USMT): US Metro Bancorp (“Bancorp”), the parent company of US Metro Bank (“Bank”), today announced the successful closing of its private placement of $15.9 million aggregate principal amount 6.00% Fixed Interest Rate Subordinated Debt Notes (the “Notes”) on March 31, 2025. The Notes will mature on March 31, 2028, and will bear interest at a rate equal to 6.00% per annum payable on a quarterly basis in arrears. Bancorp will use the proceeds for general corporate purposes including organic growth and/or repayment of certain existing debt instruments. Additionally, Bancorp announced the redemption of $10.0 million 5.25% Fixed to Floating Rate Subordinated Notes with a Floating Rate Period commencement on April 1, 2025. Bancorp has elected to redeem the $10.0 million Subordinated Notes on April 14, 2025 (the “Redemption Date”). “We are pleased with the results of our subordinated debt capital raise. This capital raise allows US Metro Bancorp to refinance higher floating rate debt and strengthens our balance sheet and overall business model” said CEO Dong Il Kim. US Metro Bank is a California chartered, full service commercial bank headquartered in Garden Grove, California. The Bank opened for business on September 15, 2006, and offers deposit and loan products (including commercial real estate, commercial and industrial, mortgage, SBA and USDA loans), as well as related banking services to its customers.
