Enterprise Bancorp, Inc. redeemed the entire $15,000,000 outstanding principal amount of the company's 6.00% fixed-to-floating rate subordinated note due January 30, 2030 evidenced by that certain Subordinated Note, dated January 30, 2015 (the Subordinated Note"). The Subordinated Note was redeemed at a price equal to 104.0% of the total principal amount of the Subordinated Note, plus accrued and unpaid interest through the Redemption Date, in accordance with the terms of that certain Subordinated Note Purchase Agreement, dated January 30, 2015.