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The $3.9 billion-asset holding company for Busey Bank redeemed all its remaining shares in the program at a total redemption price of about $72.8 million.
December 22 -
Huron Valley State Bank in Milford, Mich., plans to raise as much as $5 million to grow its two-branch business.
November 24 -
The Bank of Birmingham in Michigan has joined an increasing group of bankers delving into equipment financing, saying it will offer financing on "most equipment types" such as manufacturing and transportation.
August 28
Birmingham Bloomfield Bancshares in Birmingham, Mich., has redeemed its shares in the Small Business Lending Fund and exited the program.
The $235 million-asset holding company for Bank of Birmingham redeemed its SBLF shares for about $4.6 million, according to a Wednesday news release. The company issued the shares to the Treasury Department in July 2011.
"The SBLF program was a good opportunity for the Bank during a difficult economic period," Chief Executive Rob Farr said in the release. "It allowed us to access additional capital at an attractive cost to help support our continued growth."
Birmingham Bloomfield obtained a 10-year, fully amortized debt facility to fund the redemption. The debt facility carries a fixed 3.9% rate until 2020. Birmingham Bloomfield did not identify the provider of the debt facility.
