ENB Financial Corp announced that it has received $20 million in funding
July 21, 2022
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ENB Financial Corp announced that it will receive $20,000,000 in funding on July 22, 2022. The company will issue 5.75% fixed-to-floating rate subordinated notes in the transaction. The notes have a stated maturity of September 30, 2032, are redeemable by the company at its option, in whole or in part, on or after July 22, 2027, and at any time upon the occurrences of certain events. Prior to July 22, 2027, the company may redeem the notes, in whole or in part, only under certain limited circumstances set forth in the note. The Notes will bear interest at a fixed rate of 5.75% per year, from and including July 22, 2022 to, but excluding, July 22, 2027 or earlier redemption date. The company will issue securities pursuant to exemption provided under Regulation D. The minimum investment accepted from any investor is $250,000. The Notes are unsecured, subordinated obligations of the Company, are not obligations of, and are not guaranteed by, any subsidiary of the Company, and rank junior in right of payment to the Company's current and future senior indebtedness. The Notes are not subject to any sinking fund and are not convertible into or exchangeable for any other securities or assets of the Company or any of its subsidiaries. The company has received funding pursuant to Regulation D from 22 investors.
ENB Financial Corp is a bank holding company. The Companyâs subsidiary, Ephrata National Bank (the Bank), is a full-service commercial bank. It provides a range of financial services to individuals and small-to-medium-sized businesses in the market area. It offers a range of demand accounts, in addition to savings and time deposits. It also offers secured and unsecured commercial, real estate and consumer loans. Its ancillary services provide added convenience to customers, including direct deposit and direct payments of funds through Electronic Funds Transfer, Automatic Teller Machine linked to the NYCE network, telephone banking, MasterCard debit cards, Visa or MasterCard credit cards and safe deposit box facilities. It offers Internet banking, including bill pay and wire transfer capabilities, remote deposit capture, and an ENB Bank on the Go! app for iPhones or Android phones. It also offers a full complement of trust and investment advisory services through ENBâs Wealth Solutions.