Copyright © 2020, SNL Financial
By Abdullah Khan
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Bank of Idaho Holding Co. completed a private placement of $10.0 million in aggregate principal amount of fixed- to floating-rate subordinated notes due Aug. 31, 2030.
The notes will initially bear a fixed interest rate of 5.75% per year until Sept. 15, 2025. For the remainder of the term, until maturity or earlier redemption date, the interest rate will reset quarterly to an annual floating rate equal to 90-day average secured overnight financing rate plus 525 basis points.