New Issue: Treasury auctions $11.13 million of Presidio Bank TARP preferreds

By Stephanie N. Rotondo

Phoenix, Dec. 4 - The U.S. Department of the Treasury priced $11.13 million of series A and B fixed-rate cumulative perpetual preferred stock issued by Presidio Bank under the Troubled Asset Relief Program.

Liquidation preference is $1,000 per share.

The Treasury sold 10,800 shares of the series A preferreds at $847.21 each and 325 of the series B preferreds at $865.21 each.

Total proceeds came to $9.43 million.

The bank is based in San Francisco.

Issuer:	Presidio Bank
Amount:	$11.13 million
Proceeds:	$9.43 million
Maturity:	Perpetual
Settlement date:	Dec. 11
Series A fixed-rate cumulative preferred stock
Amount:	$10.8 million, or 10,800 shares
Price:	$847.21 per share
Liquidation preference:	$1,000
Series B fixed-rate cumulative preferred stock
Amount:	$325,000, or 325 shares
Price:	$865.21 per share
Liquidation preference:	$1,000

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