First Keystone Raises $32.5M in Tier 2 Notes to Refinance Debt
FKYS sits 28% above its 52-week low of $14.71.
Summary
First Keystone closed a $32.5M private placement of fixed-to-floating subordinated notes due 2036, intended as Tier 2 capital. Proceeds will redeem $25.0M of 4.375% notes due 2030 and fund general corporate purposes. The new notes are callable after Sep 30, 2031, providing refinancing flexibility. This follows the company's strong H1 2026 earnings and a previously announced redemption of the 2030 notes. The transaction bolsters regulatory capital and extends debt maturity, but rate details and net interest expense impact are not yet disclosed.
At the time of this announcement, FKYS was trading at $18.89 on OTC in the Finance sector, with a market capitalization of approximately $119.4M. The 52-week trading range was $14.71 to $20.00. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Wiseek News.