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.

As part of the planned sale, the $1 billion-asset bank will pay $4.1 million in dividends to holders of the Series A preferred stock. It will also pay $1.1 million in deferred interest on trust-preferred securities.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.