CFOK - Community First Bancorporation completes $10M private placement

Community First Bancorporation (CFOK) completes a private placement of $10M of its 5.125% Fixed-to-Floating Rate Subordinated Notes due 2030 to certain qualified institutional buyers and accredited investors.Notes have a maturity date of November 23, 2030 and initially bear interest, payable semi-annually in arrears, at a fixed annual rate of 5.125% per annum until November 23, 2025.Company intends to use the net proceeds from the private placement to fund $8.8M of its purchase of Security Federal Bancorp announced on October 9, 2020.Press Release

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Community First Bancorporation completes $10M private placement