Savi Financial Corporation, Inc. completed the issuance of $17 million in 10-year fixed-to-floating rate subordinated notes. The subordinated debt is structured such that it qualifies as Tier 2 capital at the holding company. The 10-year notes will initially bear interest at 4.25% per annum through March 31, 2027, and thereafter pay a quarterly floating rate equal to Three-Month Average SOFR plus 250 basis points.

The Company intends to use the net proceeds for potential future strategic opportunities and general corporate purposes, including investments in its wholly-owned subsidiary, SaviBank, as regulatory capital. Performance Trust Capital Partners, LLC served as placement agent for this offering. Keller Rohrback served as the Company's legal counsel in this offering.