Coupon will reset every 5 years starting 9/1/2027 to the 5 year treasury rate plus a spread of 4.82%
Banc of California acquired Pacwest and this previous Pacwest Issue is now a Banc of California issue
Sector: Banking
US Bancorp 4.50% Series O Non-Cumulative Perpetual Preferred Stock
Bank of America 4.75% Non-Cumulative Preferred Stock Series SS
Enterprise Financial Services Corp 5.00% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A
Bank OZK 4.625% Series A Non-Cumulative Perpetual Preferred Stock
Bank OZK is regulated by the FDIC and as such they do not file all statements with the SEC. As such the link below ‘All SEC Filings’ actually takes you to a company web page with all filings listed.
First Republic Bank 4.00% Non-Cumulative Perpetual Preferrred Stock, Series M
On 3/19/2023 S&P downgrade these to CCC
FDIC seized 4/30/2023 and FRC sold to JPM
Bank of America Corp 4.25% Non-Cumulative Preferred Shares, Series QQ
Western Alliance Bancorporation 4.25% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A
The coupon is fixed at 4.25% until 9/30/2026 after which it will reset and then every 5 years there after at the 5 year treasury plus a spread of 3.452%
Tectonic Financial Inc. 9.00% Fixed-to-Floating Rate Series B Non-Cumulative Perpetual Preferred Stock
Shares of the Parent Company are not publicly Traded
Coupon is fixed at 9% until 5/15/2024 at which time it will float at 3 month libor and a spread of 6.70%
ConnectOne Bancorp Inc. 5.25% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock Series A
Coupon is fixed at 5.25% until 9/1/2026 at which point the coupon is reset at the 5 year treasury plus a spread of 4.42%. Rate is reset every 5 years thereafter.