New Issue: Treasury Department sells $8.37 million F&M Bancshares TARP preferreds

By Stephanie N. Rotondo

Phoenix, Jan. 30 - The U.S. Department of the Treasury sold $8.37 million of F&M Bancshares Inc.'s $1,000-par series A, B and C fixed-rate cumulative preferred stock issued under the Troubled Asset Relief Program.

The modified Dutch auction began Monday and ended Tuesday.

A total of 4,609 shares of the series A preferreds were price at $942.50 per share. Another 230 shares of the series B preferreds were priced at $975.00 per share and 3,535 shares of the series Cs were priced at $942.50 each.

Total proceeds came to $7.9 million.

The Treasury will receive all proceeds.

F&M Bancshares is a Trezevant, Tenn.-based financial institution.

Issuer:	F&M Bancshares Inc.
Total amount:	$8,374,000
Proceeds:	$7,899,970
Pricing date:	Jan. 29
Settlement dates:	Feb. 7-8
Series A fixed-rate cumulative preferred stock
Amount:	$4.6 million, or 4,609 shares
Securities:	Series A cumulative preferred stock
Maturity:	Perpetual
Price:	$942.50 per share
Par:	$1,000
Series B fixed-rate cumulative preferred stock
Amount:	$230,000, or 230 shares
Securities:	Series B cumulative preferred stock
Maturity:	Perpetual
Price:	$975.00 per share
Par:	$1,000
Series C fixed-rate cumulative preferred stock
Amount:	$3.53 million, or 3,535 shares
Securities:	Series C cumulative preferred stock
Maturity:	Perpetual
Price:	$942.50 per share
Par:	$1,000

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