Bread Financial is offering 4,800,000 depositary shares (each representing a 1/40th interest in a share of its Series B Preferred Stock), at a public offering price of $25.00 per depositary share, for total gross proceeds of $120,000,000. The depositary shares represent 120,000 shares of 8.875% Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series B.
The initial dividend is fixed at 8.875% per annum through the First Reset Date, with dividends payable quarterly beginning on September 15, 2026. After the First Reset Date the dividend rate will reset each five years to the Five-Year U.S. Treasury Rate plus 4.804%. Dividends are non-cumulative and payable only if declared by the Board and if funds are lawfully available.
Bread Financial granted the underwriters an option to purchase up to an additional 720,000 depositary shares to cover over-allotments. Net proceeds are intended for general corporate purposes, including potential contributions or loans to its subsidiary bank and share repurchases.
Bread Financial is offering 4,800,000 depositary shares (each representing a 1/40th interest in a share of its Series B Preferred Stock), at a public offering price of $25.00 per depositary share, for total gross proceeds of $120,000,000. The depositary shares represent 120,000 shares of 8.875% Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series B.
The initial dividend is fixed at 8.875% per annum through the First Reset Date, with dividends payable quarterly beginning on September 15, 2026. After the First Reset Date the dividend rate will reset each five years to the Five-Year U.S. Treasury Rate plus 4.804%. Dividends are non-cumulative and payable only if declared by the Board and if funds are lawfully available.
Bread Financial granted the underwriters an option to purchase up to an additional 720,000 depositary shares to cover over-allotments. Net proceeds are intended for general corporate purposes, including potential contributions or loans to its subsidiary bank and share repurchases.
Bread Financial is offering depositary shares, each representing a 1/40th interest in a share of its Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series B, with a liquidation preference of $25 per depositary share (equivalent to $1,000 per share). Dividends, if declared, will be payable quarterly on March 15, June 15, September 15, and December 15, beginning on September 15, 2026. Dividends are non-cumulative and will reset on the First Reset Date of December 15, 2031 and each subsequent five-year reset period based on a stated formula tied to the Five-Year U.S. Treasury Rate plus a spread.
The Series B Preferred Stock is perpetual, ranks senior to common stock but junior to Bread Financial’s indebtedness, and may be optionally redeemed by the company on or after the First Reset Date or following a regulatory capital treatment event if Bread Financial becomes a Regulated Institution. Bread Financial intends to apply to list the depositary shares on the NYSE under the symbol BFH PrB. The prospectus supplement discloses that, as of March 31, 2026, total liabilities of Bread Financial and its subsidiaries were approximately $19.0 billion, and Bread Financial’s total liabilities were approximately $0.8 billion.
Bread Financial is offering depositary shares, each representing a 1/40th interest in a share of its Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series B, with a liquidation preference of $25 per depositary share (equivalent to $1,000 per share). Dividends, if declared, will be payable quarterly on March 15, June 15, September 15, and December 15, beginning on September 15, 2026. Dividends are non-cumulative and will reset on the First Reset Date of December 15, 2031 and each subsequent five-year reset period based on a stated formula tied to the Five-Year U.S. Treasury Rate plus a spread.
The Series B Preferred Stock is perpetual, ranks senior to common stock but junior to Bread Financial’s indebtedness, and may be optionally redeemed by the company on or after the First Reset Date or following a regulatory capital treatment event if Bread Financial becomes a Regulated Institution. Bread Financial intends to apply to list the depositary shares on the NYSE under the symbol BFH PrB. The prospectus supplement discloses that, as of March 31, 2026, total liabilities of Bread Financial and its subsidiaries were approximately $19.0 billion, and Bread Financial’s total liabilities were approximately $0.8 billion.
Bread Financial Holdings, Inc. announced the launch of an underwritten public offering of depositary shares, each representing a 1/40th interest in its Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series B. Each Depositary Share has a liquidation preference of $25, equivalent to $1,000 per share of Series B Preferred Stock.
The company expects to apply to list the Depositary Shares on the NYSE and plans to use net proceeds for general corporate purposes. These may include contributing or lending funds to subsidiary bank Comenity Capital Bank and funding share repurchases. Completion of the offering is subject to market and other conditions.
Bread Financial Holdings, Inc. announced the launch of an underwritten public offering of depositary shares, each representing a 1/40th interest in its Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series B. Each Depositary Share has a liquidation preference of $25, equivalent to $1,000 per share of Series B Preferred Stock.
The company expects to apply to list the Depositary Shares on the NYSE and plans to use net proceeds for general corporate purposes. These may include contributing or lending funds to subsidiary bank Comenity Capital Bank and funding share repurchases. Completion of the offering is subject to market and other conditions.
Bread Financial Holdings Inc disclosure shows Vanguard Capital Management beneficially owns 2,205,722 shares of common stock, equal to 5.11% of the class as reported for the period ending 03/31/2026. The Schedule 13G is signed on 04/29/2026 by a Vanguard representative.
Bread Financial Holdings Inc disclosure shows Vanguard Capital Management beneficially owns 2,205,722 shares of common stock, equal to 5.11% of the class as reported for the period ending 03/31/2026. The Schedule 13G is signed on 04/29/2026 by a Vanguard representative.
Bread Financial Holdings Inc: Vanguard Portfolio Management reports beneficial ownership of 2,793,984 shares of Common Stock, representing 6.48% of the class as of 03/31/2026. Vanguard reports sole dispositive power over 2,793,984 shares and sole voting power for 37,648 shares.
The filing states these holdings include securities held for Vanguard funds and managed accounts over which Vanguard Portfolio Management LLC or affiliated business divisions exercise dispositive or voting power.
Bread Financial Holdings Inc: Vanguard Portfolio Management reports beneficial ownership of 2,793,984 shares of Common Stock, representing 6.48% of the class as of 03/31/2026. Vanguard reports sole dispositive power over 2,793,984 shares and sole voting power for 37,648 shares.
The filing states these holdings include securities held for Vanguard funds and managed accounts over which Vanguard Portfolio Management LLC or affiliated business divisions exercise dispositive or voting power.
BREAD FINANCIAL HOLDINGS, INC. director Roger H. Ballou sold 9,687 shares of Common Stock in an open-market transaction at $90.32 per share. After this sale, he directly owns 30,079 shares of the company’s stock.
A footnote explains that his total beneficial ownership also includes 11,626 unrestricted shares and multiple blocks of unvested restricted stock units, such as 699 units granted on 6/27/16 and additional unvested units from annual grants through 6/16/25.
BREAD FINANCIAL HOLDINGS, INC. director Roger H. Ballou sold 9,687 shares of Common Stock in an open-market transaction at $90.32 per share. After this sale, he directly owns 30,079 shares of the company’s stock.
A footnote explains that his total beneficial ownership also includes 11,626 unrestricted shares and multiple blocks of unvested restricted stock units, such as 699 units granted on 6/27/16 and additional unvested units from annual grants through 6/16/25.
BFH submitted a Form 144 notice indicating an affiliate plans to sell restricted common stock through a broker on the NYSE. The filing lists a broker, Fidelity Brokerage Services LLC, and multiple tranches of restricted stock tied to prior vesting dates with specified share counts.
BFH submitted a Form 144 notice indicating an affiliate plans to sell restricted common stock through a broker on the NYSE. The filing lists a broker, Fidelity Brokerage Services LLC, and multiple tranches of restricted stock tied to prior vesting dates with specified share counts.
Bread Financial Holdings, Inc. provided a performance update for its credit card and other loan portfolio as of March 31, 2026, including monthly and quarterly figures. End-of-period credit card and other loans were $18.1 billion, with average balances up modestly year over year.
Net principal losses were $111 million for March and $331 million for the quarter, corresponding to net principal loss rates of 7.23% and 7.33%. The 30+ day delinquency rate was 5.59% on principal of $16.1 billion, compared with 5.93% on $16.4 billion a year earlier, indicating slightly lower delinquency levels.
Bread Financial Holdings, Inc. provided a performance update for its credit card and other loan portfolio as of March 31, 2026, including monthly and quarterly figures. End-of-period credit card and other loans were $18.1 billion, with average balances up modestly year over year.
Net principal losses were $111 million for March and $331 million for the quarter, corresponding to net principal loss rates of 7.23% and 7.33%. The 30+ day delinquency rate was 5.59% on principal of $16.1 billion, compared with 5.93% on $16.4 billion a year earlier, indicating slightly lower delinquency levels.
Bread Financial Holdings reported stronger first quarter 2026 results with higher earnings, loan growth and continued capital returns. Net income was $181 million, up 32% year-over-year, and revenue rose 5% to $1.018 billion. Diluted EPS increased to $4.15 from $2.78.
Credit sales reached $6.5 billion, up 7%, while average loans were $18.3 billion, up 1%. Credit quality improved, with the net loss rate declining to 7.33% and the delinquency rate to 5.59%. Tangible book value per common share grew 26% to $61.57, and the common equity tier 1 capital ratio rose to 13.3%.
The company retired a total of 3.5 million common shares during the quarter and increased its common stock repurchase authorization by $600 million to $690 million. Direct-to-consumer deposits were $8.7 billion, up 10% year-over-year. The Board declared a quarterly cash dividend of $21.56 per preferred share (or $0.539 per depositary share) and $0.23 per common share, both payable on June 15, 2026 to stockholders of record on May 29, 2026.
Bread Financial Holdings reported stronger first quarter 2026 results with higher earnings, loan growth and continued capital returns. Net income was $181 million, up 32% year-over-year, and revenue rose 5% to $1.018 billion. Diluted EPS increased to $4.15 from $2.78.
Credit sales reached $6.5 billion, up 7%, while average loans were $18.3 billion, up 1%. Credit quality improved, with the net loss rate declining to 7.33% and the delinquency rate to 5.59%. Tangible book value per common share grew 26% to $61.57, and the common equity tier 1 capital ratio rose to 13.3%.
The company retired a total of 3.5 million common shares during the quarter and increased its common stock repurchase authorization by $600 million to $690 million. Direct-to-consumer deposits were $8.7 billion, up 10% year-over-year. The Board declared a quarterly cash dividend of $21.56 per preferred share (or $0.539 per depositary share) and $0.23 per common share, both payable on June 15, 2026 to stockholders of record on May 29, 2026.
Gerspach John C reported acquisition or exercise transactions in this Form 4 filing.
Bread Financial Holdings director John C. Gerspach received an equity grant of 483 shares of common stock in the form of restricted stock units. These units will vest on April 15, 2027, reflecting compensation rather than an open-market purchase. Following the grant, he beneficially owns 47,206 common shares directly and 6,000 shares indirectly through the Gerspach 2020 GST Exempt Trust, for which his spouse serves as trustee.
Gerspach John C reported acquisition or exercise transactions in this Form 4 filing.
Bread Financial Holdings director John C. Gerspach received an equity grant of 483 shares of common stock in the form of restricted stock units. These units will vest on April 15, 2027, reflecting compensation rather than an open-market purchase. Following the grant, he beneficially owns 47,206 common shares directly and 6,000 shares indirectly through the Gerspach 2020 GST Exempt Trust, for which his spouse serves as trustee.