First Bancshares (FBMS) in Hattiesburg, Miss., has redeemed preferred stock BCB Holding in Mobile, Ala., issued to the Treasury Department under the Troubled Asset Relief Program.

The $941 million-asset First Bancshares bought BCB on July 1. The company said in a regulatory filing Monday that it redeemed the $2.1 million in Tarp stock that BCB had issued to the Treasury. First Bancshares also assumed a $600,000 promissory note to Alostar Bank.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

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