Crazy Woman Creek Bancorp Announces Redemption of Subordinated Notes

Rhea-AI Summary

Crazy Woman Creek Bancorp (OTCPK:CRZY) has announced the complete redemption of its $2.0 million fixed-to-floating rate subordinated notes that were originally due August 14, 2030. The redemption was executed at 100% of the principal amount plus accrued interest. These notes, issued in August 2020 with a 5.0% yield, were initially used to fund a share repurchase of 93,000 shares at $14.50 per share.

The company's President and CEO Paul M. Brunkhorst highlighted that the redemption was completed at the earliest possible opportunity, coinciding with the end of the fixed-rate period.

Positive

• Full redemption of $2.0 million in debt obligations
• Strategic timing of redemption at the end of fixed-rate period
• Demonstrates financial strength to retire debt obligations

Negative

• Reduction in available capital due to debt redemption

BUFFALO, Wyo., Aug. 18, 2025 (GLOBE NEWSWIRE) -- Crazy Woman Creek Bancorp, Inc. (OTCPK:CRZY) today announced a full redemption of its $2.0 million aggregate principal amount of fixed-to-floating rate subordinated notes due August 14, 2030 (the “Notes”). The redemption price for the Notes was equal to 100% of the principal amount of the Notes redeemed, plus any accrued and unpaid interest to, but excluding, the redemption date.

The primary use of the proceeds of the Notes was to fund a block repurchase of 93,000 outstanding shares at a purchase price of $14.50 per share in August 2020. The Notes, which were originally issued in August 2020, had a fixed-to-floating interest rate and were yielding 5.0% before redemption.

“We are pleased to complete this redemption at the earliest permitted opportunity, coinciding with the conclusion of the 5.0% fixed-rate period,” stated Paul M. Brunkhorst, President and CEO.

About the Company

Crazy Woman Creek Bancorp Inc. operates as the bank holding company for Buffalo Federal Bank which provides a range of banking products and services to individuals, families, and businesses in North-Central Wyoming. It serves customers through branch offices under the name of ‘The Bank’ in Buffalo, Gillette, and Sheridan, Wyoming. Buffalo Federal Bank was founded in 1936. Crazy Woman Creek Bancorp Inc. was formed in 1995 as the parent company of Buffalo Federal Bank and is headquartered in Buffalo, Wyoming. The shares of Crazy Woman Creek Bancorp, Inc. are traded on the OTCPK under the symbol “CRZY.”

FORWARD-LOOKING STATEMENTS

Statements 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.”

PAUL
BRUNKHORST
C.E.O.
PO Box 1020 • 106 Fort Street
Buffalo, WY 82834

P 307-684-5591

FAQ

What is the amount of subordinated notes being redeemed by Crazy Woman Creek Bancorp (OTCPK:CRZY)?

Crazy Woman Creek Bancorp is redeeming $2.0 million in fixed-to-floating rate subordinated notes that were due August 14, 2030.

What was the original purpose of the subordinated notes issued by CRZY?

The notes were originally used to fund a block repurchase of 93,000 shares at $14.50 per share in August 2020.

What was the interest rate on CRZY's subordinated notes before redemption?

The subordinated notes had a 5.0% fixed-rate yield before redemption.

When were the subordinated notes originally issued by Crazy Woman Creek Bancorp?

The subordinated notes were originally issued in August 2020 with a fixed-to-floating rate structure.