Riverview Financial Corporation (NasdaqGM:RIVE) announced that it has entered into subordinated note purchase agreements with certain institutional investors for a private placement of 5.75% fixed-to-floating rate subordinated notes due 2030 for gross proceeds of $25 million on October 6, 2020. The notes have a maturity date of October 15, 2030 and initially bear interest, payable semi-annually, at a fixed annual rate of 5.75% per annum until October 15, 2025. Commencing on that date, the interest rate applicable to the outstanding principal amount due will be reset quarterly to an interest rate per annum equal to the then current three-month secured overnight financing rate (SOFR) plus 563 basis points, payable quarterly until maturity. The company may redeem the notes at par, in whole or in part, at its option, anytime beginning on October 15, 2025. The securities were sold in reliance on the exemption from registration provided by section 4(a)(2) of the securities act of 1933 and Regulation D.