Mission Community Bancorp in San Luis Obispo, Calif., has repaid more than $5.1 million in federal aid it received under the Troubled Asset Relief Program.
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The $450 million-asset company said Wednesday that the repayment, completed last week, consisted of $5.1 million in principal and about $30,500 in accrued and unpaid dividends. The company issued the roughly 5,100 shares of preferred stock to the Treasury Department in January 2009.
James W. Lokey, chief executive and chairman of Mission Community, said in a news release that the repayment demonstrated "the capital and liquidity strength of our bank."
