News Summary

Climate First Bancorp, the holding company of Climate First Bank and OneEthos, has successfully completed a $30 million private placement offering of Fixed-to-Floating Rate Subordinated Notes. The capital raised will be utilized to further expand the company’s national growth, particularly in residential solar financing. Piper Sandler & Co. acted as the sole placement agent for the notes, which initially bear a fixed interest rate of 8% for the first five years, maturing on November 1, 2035. The offering comes in response to increased demand for residential solar financing as federal tax credits are set to expire. Climate First Bank, recognized as the fastest-growing new bank in America since 2009 and a Certified B Corp, aims to invest in America’s renewable energy infrastructure, supporting residential and commercial solar and wind projects, along with battery storage solutions.