Farmers Capital Bank redeems final third of series A preferred stock

By Wendy Van Sickle

Columbus, Ohio, June 8 – Farmers Capital Bank Corp. has redeemed its last 10,000 shares of series A preferred stock, according to a company press release.

The preferreds were redeemed at $1,000 per share for a total of $10 million, plus accrued dividends of $58,000, the news release said.

The company originally issued 30,000 shares of the preferred stock in 2009. This was the third partial redemption of the original shares issued.

“Redeeming the final portion of our outstanding preferred stock is a significant event for the company,” president and chief executive officer Lloyd C. Hillard Jr. said in the news release. “The redemption represents the full repayment of the preferred shares, which were originally issued through the U.S. Treasury’s Capital Purchase Program.

“The redemption is indicative of the continuing progress we’ve made to solidify the company’s overall financial condition.”

Farmers Capital is a bank holding company based in Frankfort, Ky.

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