Farmers Capital Bank redeems one-third of series A preferred stock

By Angela McDaniels

Tacoma, Wash., May 15 - Farmers Capital Bank Corp. redeemed 10,000 shares, or one-third, of its outstanding series A preferred stock for a total of $10.2 million, according to a company news release.

The purchase price was equal to the stated liquidation value of $1,000 per share plus $22.50 of accrued dividends per share.

The company used internally generated cash flows to fund the redemption.

"Our goal is to redeem the remaining outstanding shares as soon as possible, either in whole or in part, pending future financial performance and regulatory approval," Lloyd Hillard Jr., president and chief executive officer, said in the news release.

Farmers is a bank holding company based in Frankfort, Ky.

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