WHITE RIVER BS DL-,01

White River Bancshares has appointed Kevin Kooman as an independent member of its board of directors. Kooman previously served on the board from 2016 to 2021 as a representative of an institutional investor and brings more than 30 years of experience in strategy, M&A, capital formation and risk oversight; he was a partner at a private-equity firm, a managing director in investment banking and is a CPA with degrees from Villanova and Temple. White River Bancshares is the holding company of the Signature Bank of Arkansas, which has multiple branches, and is traded on the OTCQX. » More on de.investing.com

White River Bancshares completed a private placement of $25 million in subordinated notes. The securities pay a fixed rate of 6.625% through Feb. 28, 2031 and thereafter pay 3‑month SOFR plus 325 basis points; they mature in 2036 and are callable from Feb. 28, 2031. Proceeds will be used to repay existing subordinated liabilities and for general corporate purposes, and the notes are intended to qualify as Tier 2 capital. » More on de.investing.com