University Bancorp, Inc. (UNIB) Raises $25M in Subordinated Notes

University Bancorp, Inc. closed a $25M private placement of subordinated notes due 2036, fixed at 8.125% for five years, then SOFR+355 bps. Proceeds will fund general purposes, including bank equity and redemptions. A 5-year swap at 4.70% sets years 6—10 near 8.25%.Material DetailsContext by AI Ana…