FINANCIAL_SERVICESAWARDED

Nebraska Investment Finance Authority Board of Directors Meeting Agenda October 2025

First State Bank Purchases NIFA Ag Development Bond

$470,475Nebraska Investment Finance AuthorityFIRST STATE BANK NEBRASKA - BEATRICE, NEBRASKAOctober 24, 2025

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Description

NIFA closed an Agricultural Development Direct Loan Revenue Bond Series 2025 with First State Bank Nebraska in Beatrice as bond purchaser, providing a $470,475 loan to borrower Jacob Creevan for 153 acres of farm real estate in Gage County. The bond carries an initial 5.950% rate with triennial resets and matures on September 5, 2055.

Contract Details

Contract Amount

$470,475

Vendor

FIRST STATE BANK NEBRASKA - BEATRICE, NEBRASKA

Agency

Nebraska Investment Finance Authority, NE

Contract Type

FINANCIAL_SERVICES

Document Date

October 24, 2025

Contract Term

September 5, 2025 – September 5, 2055

Renewal Date

2055-09-05

Renewal Info

Interest rate adjusts every three years based on WSJ U.S. Prime minus 1.550%, subject to a minimum of 4% and maximum of 16% or the legal limit; payments are reamortized after each rate change over the remaining term.

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