Crazy Woman Creek Bancorp Completes Share Repurchase in Conjunction with $2.0 Million Subordinated Note Offering

BUFFALO, Wyo., Aug. 18, 2020 (GLOBE NEWSWIRE) — Crazy Woman Creek  Bancorp, Inc. (OTCPink:CRZY), the wholly owned subsidiary of Buffalo Federal Bank, today announced the completion of its private placement of $2.0 million of 5.0% fixed-to-floating rate subordinated notes due 2030 (the “Note”) to a Wyoming bank. The Note will initially bear a fixed interest rate of 5.0% per year for five years and then reset quarterly to the three-month SOFR rate, plus a spread of 460 basis points, payable quarterly in arrears to the August 14, 2030 maturity.  The Company may redeem the Note upon the end of the fixed rate period, or at any time upon certain other specified events. FORWARD-LOOKING STATEMENTSStatements in this release that are not historical facts, including, but not limited to, statements concerning future operations, results or performance, are hereby identified as “forward looking statements”.  Crazy Woman Creek Bancorp, Incorporated cautions that such “forward looking” statements,” wherever they occur in this release or in other statements attributable to Crazy Woman Creek Bancorp, Incorporated are necessarily estimates reflecting the judgment of Crazy Woman Creek Bancorp, Incorporated senior management and involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the “forward looking statements.”  Some factors that could affect the accuracy of such “forward looking statements” include general economic conditions, especially in Wyoming; the performance of the capital markets; changes in interest rates, yield curves and interest rate spread relationships; changes in accounting and tax principles, policies or guidelines; changes in legislation or regulatory requirements; changes in the competitive environment in the market served by Crazy Woman Creek Bancorp, Incorporated; and changes in the loan portfolio and the deposit base of Crazy Woman Creek Bancorp, Incorporated. Crazy Woman Creek Bancorp, Incorporated disclaims any intent or obligations to update such “forward looking statements.”CONTACT:
Paul Brunkhorst
Tel. (307) 684-5591
Email: [email protected]

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