The Treasury Department on Monday announced public offerings of warrants to buy common stock in three banks.
The Treasury said it has commenced secondary public offerings of 1,707,456 warrants to buy stock of Washington Federal Inc. It also announced offerings of 595,829 warrants to buy Signature Bank stock and 758,086 warrants to purchase stock of Texas Capital Bancshares Inc.
The auction for Washington Federal is scheduled for today. The minimum bid price per warrant is $5.
The auction for Signature Bank is set for Wednesday; the minimum bid price per warrant is $16. Texas Capital's auction is scheduled for Thursday; the minimum bid price per warrant is $6.50.
Last week the Treasury said it sold its warrants to purchase shares of Bank of America Corp. stock for $1.5 billion. The agency received warrants in several financial institutions to maximize returns on a $700 billion government effort to save the financial sector.