MARQUIS BANCORP, INC. COMPLETES PRIVATE PLACEMENT
OF SUBORDINATED NOTES
CORAL GABLES, FL, October 27, 2016 – Marquis Bancorp, Inc., the parent company of Marquis Bank, announced today the completion of a private placement of $10 million in aggregate principal amount of subordinated notes to certain institutional accredited investors. Unless redeemed earlier, the notes will mature on October 30, 2026.
The company intends to use the net proceeds from the sale of the notes for investment in its bank subsidiary and for general corporate purposes.
“We are pleased to secure this financing on favorable terms, a reflection of the continued stability of our company,” says Javier Holtz, Chairman and CEO of Marquis Bancorp. “The issuance of this debt allows us to take advantage of a favorable environment for community banks to access the capital markets and positions us to continue organic growth and to pursue potential acquisition opportunities.”
Sandler O’Neill + Partners, L.P. served as the sole placement agent for the private offering. Stearns Weaver Miller Weissler Alhadeff & Sitterson, P.A. served as legal counsel for Marquis Bancorp.
About Marquis Bancorp, Inc.
Marquis Bancorp, Inc. is the holding company for Marquis Bank, which is headquartered in Coral Gables, Florida. Marquis Bank, with over $400 million in assets, is a full-service community bank dedicated to serving business owners, professionals and investors. Marquis has successfully blended convenient state-of-the-art technology with personal attention to create an exceptional banking experience for its clients. For more information, please call 305.443.2922 or visit www.MarquisBank.com.