2017 - First National Bank

First National Bancshares, Inc. has Completed a $13.0 Million Offering of Subordinated Debt Through a Private Placement

THE TRANSACTION

In May 2017, First National Bancshares, Inc. (“FNBI”), bank holding company of First National Bank of America, completed the issuance of $13,000,000 of subordinated debt.  High net worth and bank investors acquired the debentures in the offering.  The proceeds of the offering will be used to retire related party borrowings and for other corporate purposes.

Our Client

FIRST NATIONAL BANCSHARES, INC.

First National Bancshares, Inc. was incorporated in 1985 and is the registered bank holding company of First National Bank of America. The corporate offices are headquartered in East Lansing, Michigan.  As of June 30, 2017, FNBI had total assets of $1.3 billion, gross loans of $1.2 billion, total deposits of $960.0 million, and total equity of $152.9 million. 

CONTACT

Managing Director
Financial Institutions
Managing Director
Financial Institutions
Assistant Vice President
Financial Institutions