NewBridge redeems remaining $15 million series A fixed-rate preferreds

By Toni Weeks

San Luis Obispo, Calif., March 31 - NewBridge Bancorp announced in a press release the redemption of its remaining outstanding shares of series A fixed-rate cumulative perpetual preferred stock.

The preferreds were redeemed at a liquidation price of $1,000 per share for $15 million plus $172,500 in accrued dividends.

The preferreds were previously issued to the Department of the Treasury in 2008 following NewBridge's participation in the Capital Purchase Program, the release said.

The Greensboro, N.C.-based company is the parent of NewBridge Bank.

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