First Defiance Financial in Defiance, Ohio, has completed its exit from the Troubled Asset Relief Program after buying an outstanding warrant from the Treasury Department.
The $2.2 billion-asset company said in a regulatory filing last week that it paid nearly $12 million to redeem a warrant that entitled the holder to buy roughly 551,000 shares of its common stock. The Treasury issued the warrant in December 2008.
First Defiance redeemed all shares of its preferred stock tied to Tarp in 2012. The company no longer has any outstanding investments tied to the program.