TriState Capital Holdings, Inc. announced that it has entered into a material definitive agreement for the private placement of an unsecured fixed-to-floating rate note for gross proceeds of $125,000,000 on December 15, 2021. The transaction included participation from existing investor, Raymond James Financial, Inc. The notes matures on December 15, 2024 and bears interest at a fixed annual rate of 2.25% from the date of issuance to December 15, 2022, and thereafter until maturity at a floating annual rate, reset quarterly, equal to the then current three-month Secured Overnight Financing Rate plus 2.11%. The note is not redeemable prior to December 15, 2022.

On and after December 15, 2022, the note is redeemable on any interest payment date at 100% of the principal amount thereof, plus accrued and unpaid interest to the redemption date. The note contains customary affirmative and negative covenants. Interest is computed on the basis of a 360-day year consisting of twelve 30-day months and payable semi-annually in arrears on June 15 and December 15 of each year beginning June 15, 2022 and (ii) from and including December 15, 2022 to but excluding the maturity date or earlier redemption date contemplated by Section 2 of this note, at the rate per annum, reset quarterly, equal to the Floating Interest Rate determined on the Floating Interest Determination Date of the applicable interest period plus 211 basis points, computed on the basis of a 360-day year and the actual number of days elapsed and payable quarterly in arrears on March 15, June 15, September 15 and December 15 of each year.