WALL TOWNSHIP, N.J., Dec. 19, 2025 (GLOBE NEWSWIRE) -- MB Bancorp, Inc. (the “Company”), the holding company for Manasquan Bank (the “Bank”), today completed a private placement of $45 million aggregate principal amount of 6.50% Fixed-to-Floating Rate Subordinated Notes due 2035 (the “Subordinated Notes”). The Subordinated Notes bear a fixed interest rate of 6.50% per annum for the first five years and will reset quarterly thereafter to the then current three-month Secured Overnight Financing Rate (SOFR) plus 306 basis points.
The Company intends to utilize the net proceeds to redeem the Company’s outstanding $30 million in aggregate principal amount of subordinated notes and for general corporate purposes. The notes are intended to qualify as Tier 2 capital for the Company for regulatory purposes and the portion that the Company contributes to the Bank will qualify as Tier 1 capital for the Bank.
“We are extremely pleased with the success of this transaction, which enhances our financial flexibility and positions our enterprise to pursue strategic opportunities that will enhance our ability to deliver on our promise to continually enhance the client experience,” said James S. Vaccaro, Chairman, President and Chief Executive Officer of the Company. “It reflects our ongoing commitment to growth, innovation, and delivering exceptional value to our clients and communities.”
Piper Sandler & Co. served as the sole placement agent for the offering. Meeks Butera & Israel PLLC, Washington, D.C., and Jones Walker LLP, Washington, D.C., served as legal counsel to MB Bancorp, Inc. and Luse Gorman PC, Washington, D.C., served as legal counsel to Piper Sandler & Co.
This press release is for informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to purchase, the Subordinated Notes. No sale of the Subordinated Notes shall be made in any jurisdiction where such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the applicable securities laws of that jurisdiction. The indebtedness represented by the Subordinated Notes is not a bank deposit and is not insured by the Federal Deposit Insurance Corporation or any other governmental agency or fund.
About Manasquan Bank:
Manasquan Bank, a mutual community bank with consolidated assets of $3.4 billion, is headquartered in Wall Township, New Jersey. The Bank has been serving New Jersey residents since 1874 and continues to pioneer the future of banking with both traditional and digital solutions. The Bank offers a full line of personal and business services, and operates fifteen branch locations throughout Middlesex, Monmouth and Ocean Counties in New Jersey. Manasquan Bank is a wholly-owned subsidiary of the Company. The Company is a wholly-owned subsidiary of MB Mutual Holding Company, a New Jersey chartered mutual holding company. Manasquan Bank proudly supports community-focused, non-profit initiatives through the Manasquan Bank Charitable Foundation. For more information, visit www.manasquan.Bank.
CONTACT INFORMATION:
Manasquan Bank
Marketing Department
732.292.8400
marketingdepartment@manasquan.Bank
