Sector: Banking
Fulton Financial Corporation 5.125% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A
Wells Fargo & Company 4.70% Non-Cumulative Perpetual Class A Preferred Stock, Series AA
Can only be redeemed on dividend payment date
MainStreet Bancshares Inc. 7.50% Series A Fixed-Rate Non-Cumulative Perpetual Preferred Stock
10/01/2020 I have rated this new issue ‘D’. The company has a huge amount (22%+/-) of loans in deferell because of the corona virus. It is likely many of these loans will not be paid and as a small bank financials could be significantly affected.
Capital One Financial 4.625% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series K
Redeemable only on a dividend payment date
CNB Financial Corporation 7.125% Series A Fixed Rate Non-Cumulative Perpetual Preferred Stock
Atlantic Union Bancshares 6.875% Perpetual Non-Cumulative Preferred Stock, Series A
First Reepublic Bank 4.70% Non-Cumulative Perpetual Preferred Stock, Series J
Clicking on Prospectus Link will Download Filing to your computer
Level One Bancorp 7.50% Non-Cumulative Perpetual Preferred Stock, Series B
WesBanco Inc. 6.75% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A
Coupon is fixed at 6.75% until 11/14/2025. On 11/15/2025 the rate will be the 5 year treasury and a spread of 6.557% which is reset every 5 years.
Truist Financial 4.75% Series R, Non-Cumulative Perpetual Preferred Stock
May only be redeemed on a dividend payment date
Associated Banc-Corp 5.625% Non-Cumulative Perpetual Preferred Shares, Series F
May only be redeemed on a dividend payment date
Triumph Bancorp Inc 7.125% Series C Fixed Rate Non-Cumulative Perpetual Preferred Stock
Heartland Financial USA Inc. 7.00% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series E
Coupon is fixed at 7% until 7/14/2025. On 7/15/2025 the rate will be the 5 year treasury and a spread of 6.675% which is reset every 5 years.
United Community Banks, Inc. 6.875% Non-Cumulative Preferred Stock, Series I
May only be redeemed on a dividend payment date
First Horizon National 6.50% Non-Cumulative Perpetual Preferred Stock, Series E
Pinnacle Financial Partners 6.75% Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series B
Hancock Whitney Corporation 6.25% Notes due 2060
Previously was Hancock Holdings
OceanFirst Financial 7.00% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series A
Coupon is fixed at 7% until 5/15/2025 after which time the coupon floats at 3 month SOFR plus a spread of 6.845%.
First Midwest Bancorp Inc. 7.00% Fixed Rate Non-Cumulative Perpetual Preferrd Stock, Series A
Wintrust Financial Corporation 6.875% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series E
Coupon will be fixed until 7/15/2025 after which it will be reset at the 5 year treasury plus a spread of 6.507%. Every 5 years there after the coupon will reset at the 5 year treasury rate plus the spread
May only be redeemed on a dividend payment date
Truist Financial Corporation 5.25% Series O Non-Cumulative Perpetual Preferred Stock
May only be redeemed on a dividend payment date
First Citizens BancShares 5.375% Non-Cumulative Perpetual Preferred Stock, Series A
Dime Community Bancshares 5.50% Non-Cumulative Perpetual Preferred Stock, Series A
A ‘reopening’ of this issue occurred on 6/3/2020. 2 million additional shares were sold @ $19.87
Capital One Financial 4.80% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series J
Redeemable only on a dividend payment date