Sector: Banking
First Republic Bank 4.70% Non-Cumulative Perpetual Preferred Stock, Series J
On 3/19/2023 S&P downgrade these to CCC
FDIC seized 4/30/2023 and FRC sold to JPM
Level One Bancorp 7.50% Non-Cumulative Perpetual Preferred Stock, Series B
Level One acquired by First Merchants 4/1/2022
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