New Issue: Treasury sell $1.63 million of Hyperion Bank's series A and B TARP preferreds

By Stephanie N. Rotondo

Phoenix, Dec. 13 - The U.S. Department of the Treasury priced $1.63 million of series A and B fixed-rate noncumulative perpetual preferred stock issued by Hyperion Bank under the Troubled Asset Relief Program.

The modified Dutch auction began Tuesday and ended late Wednesday.

The Treasury sold 1,552 shares of the series A preferreds at $650.00 each. Another 78 shares of the series Bs were sold, also at $650.00 each.

Total proceeds came to $1.06 million.

The Philadelphia-based bank will not receive any proceeds from the sale.

Issuer:	Hyperion Bank
Amount:	$1.63 million
Proceeds:	$1.06 million
Maturity:	Perpetual
Pricing date:	Dec. 12
Settlement date:	Dec. 20
Series A fixed-rate noncumulative preferred stock
Amount:	$1,552,000, or 1,552 shares
Liquidation preference:	$1,000
Price:	$650.00
Series B fixed-rate noncumulative preferred stock
Amount:	$78,000, or 78 shares
Liquidation preference:	$1,000
Price:	$650.00

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