PITTSBURGH--(BUSINESS WIRE)--TriState Capital Holdings, Inc. (Nasdaq: TSC), the holding company for TriState Capital Bank and Chartwell Investment Partners, Inc., completed an underwritten public offering of its subordinated notes, raising $60 million in proceeds, before deduction of underwriting discounts and offering expenses.

The subordinated notes bear a fixed-to-floating interest rate of 5.75% per annum and mature on May 15, 2030. Net proceeds are expected to be used for general corporate purposes, including to support the organic growth of TriState Capital Bank, and may be used to repay certain outstanding indebtedness. Proceeds that the holding company provides to TriState Capital Bank are expected to qualify under federal regulatory rules as Tier 1 capital for TriState Capital Bank.

Stephens Inc. and Raymond James & Associates, Inc. served as joint book-running managers for the offering.

ABOUT TRISTATE CAPITAL

TriState Capital Holdings, Inc. (Nasdaq: TSC) ) is a bank holding company headquartered in Pittsburgh, Pa., providing commercial banking, private banking and investment management services to middle-market companies, institutional clients and high-net-worth individuals. Its TriState Capital Bank subsidiary had $8.9 billion in assets as of March 31, 2020, and serves middle-market commercial customers through regional representative offices in Pittsburgh, Philadelphia, Cleveland, Edison, N.J., and New York City, as well as high-net-worth individuals nationwide through its national referral network of financial intermediaries. Its Chartwell Investment Partners subsidiary had $8.3 billion in assets under management as of March 31, 2020, and serves institutional clients and TriState Capital’s financial intermediary network.