Elmira Savings Bank (ESBK) in New York is scaling back its involvement in the Treasury Department's small-business lending fund.

The $509 million-asset bank said Thursday that it has repaid $10.5 million, or 75%, of the preferred stock it issued to the Treasury as participation in the small-business lending fund. It has $3.5 million worth of shares outstanding in the program.

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.