First Bancorp in Damariscotta, Maine, has repurchased warrants it sold to the Treasury Department under the Troubled Asset Relief Program.
The $1.6 billion-asset company disclosed in a regulatory filing Tuesday that it paid about $1.8 million to a group of private investors for the warrants, which would have entitled the owner to buy nearly 227,000 shares of common stock at $16.53 each.
First Bancorp originally issued the warrants to the Treasury in January 2009 in conjunction with the issuance of $25 million of preferred stock. The company bought back the preferred stock in three separate transactions in 2012 and 2013.
The Treasury sold the warrants in May 2015.