LOAN AND STOCK PLEDGE AGREEMENTLoan and Stock Pledge Agreement • July 10th, 2008 • 1st United Bancorp, Inc. • State commercial banks • Georgia
THIS LOAN AND STOCK PLEDGE AGREEMENT (the "Agreement"), entered into as of July 2, 2008, by and between 1ST UNITED BANCORP, INC., a Florida corporation (the "Borrower"), and SILVERTON BANK, N.A. (the "Lender").
1st United Bank $5,000,000 Subordinated Capital Note PURCHASE AGREEMENTPurchase Agreement • July 10th, 2008 • 1st United Bancorp, Inc. • State commercial banks • Georgia
1st United Bank (the “Bank”), a Florida banking corporation and wholly owned subsidiary of 1st United Bancorp, Inc. (the “Corporation”), upon and subject to the terms and conditions stated herein, is offering, issuing and selling (the “Offering”) a subordinated capital note in the principal amount of $5,000,000 (the “Note”), pursuant to exemptions from registration under Sections 3(a)(2) and 4(2) of the Securities Act of 1933, as amended (the “Securities Act”), Securities and Exchange Commission (the “Commission”) Rule 506 under the Securities Act (“Rule 506”) and Commission Rule 144A under the Securities Act (“Rule 144A”). Capitalized terms used but not defined herein shall have the meanings provided in the certificate representing the Note, and the singular includes the plural.
THIS NOTE IS NOT A DEPOSIT AND IS NOT INSURED OR GUARANTEED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION OR ANY GOVERNMENT AGENCY, AND IS NOT SECURED THIS NOTE HAS NOT BEEN REGISTERED PURSUANT TO THE SECURITIES ACT OF 1933 OR ANY STATE OR OTHER...Subordinated Capital Note • July 10th, 2008 • 1st United Bancorp, Inc. • State commercial banks
FOR VALUE RECEIVED, the undersigned, 1st UNITED BANK, a Florida banking corporation and Federal Reserve member bank (the “Borrower”), promises to pay to the order of SILVERTON BANK, N.A. (the “Lender” and, together with any holder hereof, the “Holder”), at 3284 Northside Parkway NW, Atlanta, GA 30327 (or at such other place as the Holder may designate in writing to the Borrower), in lawful money of the United States of America, the principal sum of Five Million and No/100 Dollars ($5,000,000.00), together with interest on so much thereof as is from time to time outstanding and unpaid, from the date hereof at the rate of interest as hereinafter provided.
