New Issue: Treasury sells $5.78 million of First Southwest's TARP preferreds

By Stephanie N. Rotondo

Phoenix, March 15 - The Department of the Treasury auctioned off $5.78 million of series A and B fixed-rate cumulative preferred stock issued by First Southwest Bancorporation Inc. of Alamosa, Colo.

First Southwest issued the preferreds to the government agency under the Troubled Asset Relief Program. The modified Dutch auction began Tuesday and ended Thursday.

A total of $5.5 million of the $1,000-par series A preferreds were sold at $900.02 each. Another $275,000 of the series Bs were sold at $952.02 apiece.

Total proceeds came to $5.21 million. The financial institution will not receive any of the funds.

Issuer:	First Southwest Bancorporation Inc.
Issue:	Fixed-rate cumulative preferred stock
Amount:	$5,775,000
Proceeds:	$5,211,915.50
Series A preferreds
Amount:	$5.5 million
Shares:	5,500
Price:	$900.02
Par:	$1,000
Series B preferreds
Amount:	$275,000
Shares:	275
Price:	$952.02
Par:	$1,000

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