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First Bancshares buys back $17.12 million TARP preferreds at discount
By Marisa Wong
Morgantown, W.Va., Dec. 7 – First Bancshares, Inc. said it repurchased all 17,123 shares of its cumulative perpetual preferred stock, series CD, on Dec. 6.
The preferreds were repurchased at fair market value of $15,925,000, which is a 7% discount to par, or $1,198,000.
The preferreds were issued to the U.S. Treasury under the Troubled Asset Relief Program’s community development capital initiative.
Based in Hattiesburg, Miss., First Bancshares is the parent company of The First, A National Banking Association.
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