StellarOne Corp. in Charlottesville, Va., has repurchased the remaining $22.5 million in preferred stock it issued under the Troubled Asset Relief Program.

The $3 billion-asset company said Wednesday that, due to strong capital levels, it was able to repay the funds without issuing any common stock or incurring debt. At Sept. 30, the company's total risk-based capital ratio was 16.71% and its Tier 1 risk-based capital ratio was 15.45%, according to data from the Federal Deposit Insurance Corp.

StellarOne issued 22,500 preferred shares to the Treasury Department in December 2008.

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