First Keystone Raises $32.5 Million Via 7.50% Subordinated Notes to Bolster Tier 2 Capital

First Keystone entered into Subordinated Note Purchase Agreements to privately place $32.5 million of 7.50% fixed-to-floating rate subordinated notes due 2036 for general corporate purposes. The notes carry a 7.50% fixed rate until Sep 30, 2031, then float at Three-Month Term SOFR plus 277 bps, wit…