New Issue: Treasury auctions off $11.95 million of Plumas Bancorp's TARP preferreds

By Stephanie N. Rotondo

Phoenix, April 19 - The Department of the Treasury sold $11.95 million of series A fixed-rate cumulative perpetual preferred stock issued by Plumas Bancorp, according to a press release.

The securities were issued to the agency under the Troubled Asset Relief Program.

The auction began Monday and ended Thursday.

The Treasury raised $13.04 million from the modified Dutch auction, with 11,949 preferreds being sold for $1.091.11 each.

The Quincy, Calif.-based bank will not receive any of the raised funds.

Issuer:	Plumas Bancorp
Issue:	Series A fixed-rate cumulative preferred stock
Amount:	$11,949,000
Proceeds:	$13,037,673.39
Shares:	11,949
Maturity:	Perpetual
Price:	$1,091.11
Par:	$1,000
Settlement date:	April 29

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.