SAN DIEGO, March 05, 2024 (GLOBE NEWSWIRE) -- Endeavor Bancorp (OTCQX: EDVR ) (the "Company," or "Bancorp"), the holding company for Endeavor Bank (the "Bank"), today announced that it has completed the issuance of $12.5 million in fixed-to-floating rate subordinated notes. The subordinated debt is structured such that it qualifies as Tier 2 capital at the holding company and will be down streamed to the Bank as Tier 1 capital. The Company intends to use the net proceeds primarily to support its strategic expansion into the greater Los Angeles and Inland Empire markets and for general corporate purposes. Performance Trust Capital Partners, LLC acted as placement agent. "This successful capital raise gives us an opportunity to build out our business plan and is an affirmation of the tremendous opportunities in our greater Southern California market," said Dan Yates, CEO.