Independent Bank Group in McKinney, Texas, has exited the Small Business Lending Fund program.
The $4.5 billion-asset Independent redeemed $24 million in preferred shares with the Treasury Department, according to a regulatory filing.
Independent obtained the SBLF shares in April 2014, through its acquisition of Bank of Houston and BOH Holdings.
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AmeriServ Financial in Johnstown, Pa., and Provident Bancorp in Amesbury, Mass., are the latest community banks to announce plans to exit the Small Business Lending Fund.
January 4 -
The $1 billion-asset holding company for Veritex Community Bank redeemed about $8 million worth of SBLF shares.
December 23 -
In its third acquisition deal this year, Independent Bank Group (IBTX) in McKinney, Texas, has agreed to buy BOH Holdings in Houston.
November 21
Independent is the latest bank to exit the SBLF program, as the dividend rate on the preferred shares switched to 9% this month, from 1%.
