WASHINGTON, D.C. – Troutman Pepper Locke advised ODNB Financial Corporation, the holding company for Old Dominion National Bank, a locally owned community bank serving markets including the Washington, D.C., metro area, in the completion of a private placement of a $25 million 7.25% fixed-to-floating rate subordinated note due 2035 to a subsidiary of EJF Capital, LLC, a locally-based global institutional asset management firm specializing in financials. For more information, see the press release.
ODNB Financial Corporation intends to use the net proceeds from the offering for general corporate purposes.
The Troutman Pepper Locke team that advised ODNB Financial Corporation included Greg Parisi, Adrianna ScheerCook, and Brenna Sheffield.
Troutman Pepper Locke’s Financial Services Group offers comprehensive support to financial services businesses in today’s challenging and ever-changing environment. Consistently recognized as a leading service provider to all segments of the financial services industry, the firm provides timely and practical counsel to guide clients with their most important decisions. From global financial institutions to small banks and non-bank financial service providers, clients depend on Troutman Pepper Locke to help them achieve their strategic and commercial goals while managing regulatory and litigation risk.
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