SOURCE: Ambassador Financial Group

Ambassador Financial Group

February 02, 2016 14:16 ET

Ambassador Financial Group, Inc. Announces $4 Million Private Placement of Subordinated Debt on Behalf of Merchants and Manufacturers Bank Corporation

ALLENTOWN, PA--(Marketwired - Feb 2, 2016) - Ambassador Financial Group, Inc. today announced the successful completion of a $4 million private placement of subordinated debt for Merchants and Manufacturers Bank Corporation. The subordinated debt will qualify as Tier 2 capital at the holding company level and will be due in 2026 and is non-callable for 5 years.

Headquartered in Joliet, Illinois, Merchants and Manufacturers Bank Corporation ("M&M") is a financial holding company for Merchants and Manufacturers Bank (the "Bank"). Founded in 1969, the bank was acquired by the Holding Company in 1993. The holding company was formed to acquire the bank. The bank offers personalized retail and custom commercial services throughout the Chicago market.

Laurence G. Foy, President & CEO of Merchants and Manufacturers Bank Corporation, commented, "The custom tailored service provided by Ambassador really helped the execution of the capital raise. We will be able to use the proceeds in an efficient manner by refinancing SBLF and repositioning for growth." Karl Ostby, Managing Director of Ambassador, added, "We are pleased to continue to provide the same personalized service community banks offer to their customers to our own clients."

This announcement is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy securities.

About Ambassador Financial Group, Inc. - Ambassador Financial Group, a FINRA registered broker-dealer, headquartered in Allentown, PA, offers a comprehensive suite of strategic, customized solutions to community banks and thrifts nationwide, including balance sheet management, investment banking, investor relations, and capital markets services. Ambassador Financial Group's recent successes include:

  • Riverview Financial Corporation (PA) $7.8 million acquisition of Citizens National Bank of Meyersdale (PA)
  • Eagle National Bancorp, Inc. (PA) $25.3 million acquisition by ESSA Bancorp, Inc. (PA)
  • Old Line Bancshares, Inc. (MD) $6.6 million acquisition of Regal Bancorp, Inc. (MD)
  • Juniata Valley Financial Corporation (PA) $13.2 million acquisition of FNBPA Bancorp Inc. (PA)
  • Woodsboro Bank (MD) proposed merger with Middletown Valley Bank (MD)
  • Kinderhook Bank Corp. (NY) $10 million private placement of subordinated debt
  • Oconomowoc Bancshares, Inc. (WI) $12 million private placement of subordinated debt
  • Pathfinder Bancorp, Inc. (NY) $10 million subordinated loan agreement
  • Nicolet Bankshares, Inc. (WI) $12 million private placement of subordinated debt
  • The First National Bank of Minersville (PA) $13.4 million acquisition by GNB Financial Services, Inc. (PA)
  • York Traditions Bank (PA) $5.0 million private placement of subordinated debt
  • Carroll Bancorp (MD) $5.1 million private placement of common equity

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