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Treasury sets dates for of TARP auction of seven financial institutions
By Stephanie N. Rotondo
Phoenix, March 8 - The U.S. Department of the Treasury announced an upcoming auction of preferred stock and subordinated debt securities issued under the Troubled Asset Relief Program.
The modified Dutch auction will commence on Monday and end late Wednesday. Results will likely be released on Thursday.
Participating institutions include Alliance Bancshares Inc. of Dalton, Ga.; AmFirst Financial Services Inc. of McCook, Neb.; First Southwest Bancorporation Inc. of Alamosa, Colo.; Flagstar Bancorp Inc. of Troy, Mich.; Old Second Bancorp Inc. of Aurora, Ill.; Stonebridge Financial Corp. of West Chester, Pa.; and United Community Banks Inc. of Blairsville, Ga.
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