Oregon Pacific Bancorp announced the completion of a private placement of $15 million in aggregate principal amount of fixed-to-floating rate subordinated notes (the “Notes”) to certain qualified institutional buyers and accredited investors. The Notes will initially bear interest at 3.375% per annum payable semi-annually until September 30, 2026, and thereafter pay a quarterly floating interest rate based on the then current Three-Month Term Secured Overnight Financing Rate (SOFR) plus 266 basis points, payable quarterly in arrears. Beginning on September 30, 2026, the Notes may be redeemed, in whole or in part, at the Company’s option. The Notes will mature on September 30, 2031. The Notes are structured to qualify as Tier 2 capital instruments for regulatory capital purposes. Oregon Pacific Bancorp President and CEO, Ron Green stated, “We are very pleased to have successfully completed this subordinated debt issuance at favorable pricing. The company anticipates that the majority of the net proceeds of the private placement will be distributed to Oregon Pacific Bank and will be used for strategic opportunities that should create long-term value for the clients, shareholders and staff, [in addition to general corporate purposes].” Performance Trust Capital Partners served as sole placement agent. Pillsbury Winthrop Shaw Pittman LLP and White Summers Caffee & James, LLP, served as legal counsel to the Company, and Keller Rohrback, LLP, served as legal counsel for the placement agent. Oregon Pacific Bancorp, headquartered in Florence, Oregon, is the bank holding company parent of Oregon Pacific Bank, which provides small business, commercial real estate and nonprofit banking services and trust administration, as well as financial planning and investment services through its wholly owned subsidiary, Oregon Pacific Wealth Management, LLC. Oregon Pacific Bank operates five full-service offices and serves Lane, Coos, Douglas and Jackson counties in Oregon.