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Blue Valley Ban Corp. in Overland Park, Kan., has agreed to acquire a branch in its hometown owned by The Federal Savings Bank in Chicago.
June 3 -
First Defiance Financial in Defiance, Ohio, has completed its exit from the Troubled Asset Relief Program after buying an outstanding warrant from the Treasury Department.
March 17 -
The Federal Reserve Board has terminated a written agreement with Blue Valley Ban Corp. in Overland Park, Kan.
January 18
Blue Valley Ban Corp. in Overland Park, Kan., has obtained regulatory approval to redeem its Troubled Asset Relief program preferred shares.
The $617 million-asset bank will
"Improved earnings and asset quality over this period have allowed us to replace this temporary source of capital with more permanent common equity," Robert Regnier, chairman and chief executive, said in a news release.
Blue Valley will also issue shares of common stock and Series B convertible preferred stock Regnier and to an unnamed third-party investor; and for term loan funding provided by an unnamed third party lender.
After the transaction, Blue Valley expects its annual cost of capital will decrease by about $2 million.
