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Valley Financial (VYFC) in Roanoke, Va., has exited the Troubled Asset Relief Program after issuing $11 million in subordinated debt to an unnamed accredited investor.
October 16 -
The Treasury Department is taking a roughly 45% discount its latest auction of Troubled Asset Relief Program shares.
November 8
Valley Financial (VYFC) in Roanoke, Va., has exited the Troubled Asset Relief Program with the repurchase of a warrant the company issued to the Treasury Department in 2008.
Valley Financial paid $1.5 million for a warrant to purchase 344,742 shares of common stock at $6.97 per share a 38% discount.
"We are pleased to have completed the repurchase of the warrant from the Treasury," President and Chief Executive Ellis Gutshall said in a
In October, Valley Financial
Valley Financial has nine branches in Virginia and $806 million of assets.