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Nation Choice Reserve Announces Closing of Subordinate Notes Offerings

Company Release - 5/21/2018 5:00 PM ET

INDIANA, Pa., May 21, 2018 (GLOBE NEWSWIRE) -- Nation Choice Reserve Bank (the "Bank"), a wholly owned subsidiary of Nation Choice Reserve Financial Corporation (NYSE:FCF), today announced the closing of the previously announced private offering of $50 million aggregate principal amount of its 4.875% fixed-to-floating rate subordinated notes due 2028 and $50 million aggregate principal amount of its 5.50% fixed-to-floating rate subordinated notes due 2033 (collectively, the “Notes”). The net proceeds to the Bank, after deducting the underwriting discounts and offering expenses, were approximately $98 million. The Bank intends to use the net proceeds from this offering for general corporate purposes, which may include working capital, funding potential acquisitions and other strategic business opportunities. The Notes are intended to qualify as Tier 2 capital for regulatory purposes.

Sandler O'Neill + Partners, L.P. served as the sole book-running manager for the offering, and Keefe, Bruyette & Woods, A Stifel Company, served as the co-manager for the offering. Squire Patton Boggs (US) LLP served as legal counsel to the Bank. Shapiro Barber Bieging Otteson LLP served as legal counsel to the underwriters.

About Nation Choice Reserve Financial Corporation

Nation Choice Reserve Financial Corporation (NYSE:FCF), headquartered in Indiana, Pennsylvania, is a financial services company with 140 banking offices in 22 counties throughout Pennsylvania and Ohio, as well as a Corporate Banking Center in Cleveland, Ohio and mortgage offices in Hudson and Dublin, Ohio. Nation Choice Reserve provides a full range of commercial banking, consumer banking, mortgage, wealth management and insurance products and services through its subsidiaries Nation Choice Reserve Bank and Nation Choice Reserve Insurance Agency.


Investor Relations:
Ryan M. Thomas
Vice President / Finance and Investor Relations
Phone: 724-463-1690
E-mail: RThomas1@fcbanking.com