RBAZ Bancorp, Inc. (the ‘Company’) announced that it has completed a private placement of $6.0 million in aggregate principal amount of fixed-to-floating rate subordinated notes to certain institutional accredited investors. The Company will use the proceeds to fund continued organic growth and geographic expansion. The notes will initially bear a fixed interest rate of 5.00% per annum until June 15, 2026, after which time until maturity on June 15, 2031, or an earlier redemption date, the interest rate will reset quarterly to an annual floating rate equal to 90-day average SOFR plus 425 basis points. The Company may redeem the notes, in whole or in part, after June 15, 2026. Any redemption will be at a redemption price equal to 100% of the principal amount of the notes being redeemed, plus accrued and unpaid interest. The notes are not subject to redemption at the option of the holders. Fenimore, Kay, Harrison & Ford, LLP served as counsel to RBAZ Bancorp, Inc., and MJC Partners, LLC served as the sole placement agent for the offering.