October marks the bank's largest-ever solar financing month - more than $60 million in transactions

Climate First President: "These Notes provide the capital and flexibility to continue to invest in America's renewable energy independence"

ST. PETERSBURG, FL / ACCESS Newswire / October 31, 2025 / Climate First Bancorp, the holding company for Climate First Bank and OneEthos, today announced it had completed a $30 million private placement offering of Fixed-to-Floating Rate Subordinated Notes. Climate First Bancorp will use the net proceeds from the offering to continue the company's rapid national growth, especially in its residential solar financing business.

Piper Sandler & Co. served as sole placement agent for the Notes, which bear a fixed-rate interest of eight percent for the first five years and mature on November 1, 2035. Jack Greeley of Smith Mackinnon PA served as legal counsel to Climate First Bancorp and Alston & Bird, LLP served as placement agent's counsel to Piper Sandler & Co. EJF Capital, a global institutional alternative asset management firm, is a lead investor.

The new Notes come as Climate First Bank, the world's first FDIC-insured, values-based, digital-forward community bank founded to combat the climate crisis, announced that it had financed more than $60 million in residential solar deals in October alone - powered by its fintech arm OneEthos. October's total marked the bank's largest solar financing month ever, nearly double the amount financed in September.

The strong demand comes as the latest tax and spend package by Congress sunset residential solar tax credits at the end of the year.

"The strong demand for these Notes makes it clear that investments into America's renewable energy infrastructure - from residential and commercial solar and wind farms to battery energy storage - are only just beginning," said Ken LaRoe, CEO of Climate First Bancorp. "By fighting climate change, we aren't just on the right side of climate history moving forward, we are on the right side of the consumer and capital markets today."

"With the Federal solar tax credits coming to an end, homeowners and installers across the country are racing to finalize deals. These Notes will not only help us support their work, but provide us with the capital and flexibility to invest in America's renewable energy independence," said Lex Ford, President of Climate First Bancorp.

"Together, Climate First Bank and OneEthos offer the best, easiest-to-use solar platform on the market today - both for installers and homeowners," said Marcio deOliveira, CEO of OneEthos. "While other providers have stepped away from the industry, we are doubling down, investing in the people and technology that will make us a market leader for the next generation. That's critical in our fight against climate change."

Additional Background on Climate First Bancorp's $30 Million Subordinated Notes

• The Notes will initially bear interest at an annual fixed rate of 8.00% for the first five years, payable semi-annually in arrears, to be excluding November 1, 2030, at which time the interest rate will reset quarterly to an annual floating rate equal to the then current three-month term Secured Overnight Financing Rate plus 472 basis points, with interest during this period payable quarterly in arrears.

• Climate First Bancorp may, at its option, redeem the Notes, in whole or in part, on any interest payment date on or after November 1, 2030, or at any time, in whole but not in part, upon other specified events.

• The Notes have been structured to qualify for Tier 2 capital for Climate First Bancorp for regulatory capital purposes.

About Climate First Bank

Recognized as the fastest growing new bank in America since 2009, Climate First Bank is the world's first FDIC-insured, values based, digital-forward community bank founded to combat the climate crisis. A Certified B Corp, 1% for the Planet member and operationally net-zero since it opened its doors in June 2021, the bank offers a complete portfolio of simple and easy-to-use traditional banking products powered by technology to meet the expectations of today's consumers. In addition to offering standard banking services, the company places a special emphasis on non-profits, B Corps, and businesses committed to sustainability. Eco-conscious customers will find dedicated loan options for solar photovoltaic (PV), energy retrofits, and infrastructure to help combat the climate crisis. The bank reports annually on its impact in line with corporate social responsibility goals. Read the most recent Impact Report here. Member FDIC.

For more information, please visit: www.climatefirstbank.com.

Contact Information

John Collins
Collins Strategy Group
john@collinssg.com
(917) 496-4587

SOURCE: Climate First Bank