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CalWest Bancorp in Irvine, Calif., has raised $14 million through a private offering to recapitalize and to retire its Troubled Asset Relief Program funds.
December 28 -
F&M Bank in Clarksville, Tenn., has named Tennessee banking veteran Brad Barrett to its board of directors.
December 24 -
The $1 billion-asset holding company for Veritex Community Bank redeemed about $8 million worth of SBLF shares.
December 23
First Priority Financial in Malvern, Pa., has redeemed $6 million in preferred stock associated with the Troubled Asset Relief Program.
First Priority, the parent of the $508 million-asset First Priority Bank, said in a press release Monday that it bought back about 6,000 shares from unnamed investors that had purchased the stock from the Treasury Department. Following the transaction, roughly 3,000 shares of preferred stock will still be outstanding.
First Priority raised funds for the redemption
The redeemed shares represent nearly two-thirds of the $9.4 million in outstanding fixed-rate cumulative perpetual preferred stock that the company issued in 2009 as part of the Tarp.