Farmers Capital Bank in Frankfort, Ky., has completed the redemption of its Troubled Asset Relief program preferred shares for about $10.1 million.
The $1.8 billion-asset company initially issued 30,000 shares of Series A preferred stock in 2009, as part of Tarp.
Farmers Capital has now redeemed those shares in three separate transactions of 10,000 shares.
In the final transaction, the redemption amount was equal to the stated liquidation value of $1,000 per share, plus $58,000 in accrued dividends. Farmers Capital's preferred shares were owned by private investors.