By Stephanie N. Rotondo
Phoenix, April 19 - The Department of the Treasury sold $12 million of series A fixed-rate cumulative perpetual preferred stock issued by Guaranty Federal Bancshares Inc. at auction, according to a press release.
The securities were issued to the agency under the Troubled Asset Relief Program.
The modified Dutch auction began Monday and ended Thursday.
A total of 12,000 preferreds were sold at $967.50 each, resulting in total proceeds of $11.61 million.
The Springfield, Mo.-based bank will not receive any of the raised funds.
| Issuer: | Guaranty Federal Bancshares Inc.
|
| Securities: | Series A fixed-rate cumulative preferred stock
|
| Amount: | $12 million
|
| Proceeds: | $11.61 million
|
| Shares: | 12,000
|
| Maturity: | Perpetual
|
| Price: | $967.50
|
| Par: | $1,000
|
| Settlement date: | April 29
|
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