Eastern Virginia Bankshares Buys Back Tarp Warrant

By Tanaya Macheel May 14, 2015, 11:37 a.m. EDT 1 Min Read

Consumer banking

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Eastern Virginia Bankshares (EVBS) of Tappahannock, Va., said Thursday that it intends to repay $15 million of its Troubled Asset Relief Program aid by late in the second quarter.

By Kristin Broughton

May 22
M&A

Eastern Virginia to Buy Virginia Company Bank for $9.6M

Eastern Virginia Bankshares (EVBS) said Thursday that it has agreed to acquire Virginia Company Bank (VGNA) for $9.2 million in stock and cash.

By Kristin Broughton

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Eastern Virginia Bankshares in Tappahannock has repurchased a warrant from the Treasury Department tied to the Troubled Asset Relief Program.

The $1.1 billion-asset company said in a press release Thursday that it paid $115,000 to buy back the warrant. The warrant would have allowed the Treasury to buy nearly 385,000 shares of the company's common stock at an exercise price of roughly $9.37 a share.

The Treasury has no remaining investment in Eastern Virginia.

Tanaya Macheel

Reporter

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