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Eagle Bancorp in Bethesda, Md., has redeemed all the shares it accumulated through the Small Business Lending Fund program.
November 2 -
First Northern Community Bancorp in Dixon, Calif., has exited the Small Business Lending Fund.
October 27 -
Mid Penn Bancorp in Millersburg, Pa., has agreed to buy Phoenix Bancorp in Minersville, Pa.
August 27
Mid Penn Bancorp in Millersburg, Pa., plans to exit the Small Business Lending Fund program and redeem a separate pool of preferred stock through an upcoming debt sale.
The $915 million-asset company plans to redeem $1.75 million worth of SBLF preferred stock held by the U.S. Treasury Department, pending regulatory approval. Mid Penn's SBLF investment came from its February acquisition of
Additionally, Mid Penn plans to redeem a separate series of $5 million worth of perpetual preferred shares, which is not part of SBLF. Mid Penn issued the $5 million of preferred stock between September 2012 and January 2013, according to its
To finance both redemptions, Mid Penn will issue $7.5 million of subordinated notes due 2025. The debt offering and the $5 million preferred-stock redemption are both expected to close on Dec. 9.
