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Treasury schedules auction of TARP holdings from six institutions
By Stephanie N. Rotondo
Phoenix, Feb. 5 - The U.S. Department of the Treasury will hold an auction of preferred stock and subordinated debt positions obtained under the Troubled Asset Relief Program on Wednesday.
The modified Dutch auction will include securities from Carolina Bank Holdings Inc. of Greensboro, N.C.; FC Holdings Inc. of Sugar Land, Texas; First Trust Corp. of New Orleans; Flagstar Bancorp Inc. of Troy, Mich.; National Bancshares Inc. of Bettendorf, Iowa; and Ridgestone Financial Services Inc. of Brookfield, Wis.
All proceeds will go to the Treasury Department.
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