By Stephanie N. Rotondo
Phoenix, Nov. 8 - The U.S. Department of the Treasury sold $14.74 million of Village Bank and Trust Financial Corp.'s series A fixed-rate cumulative perpetual preferreds at auction, according to a press release.
The preferreds were issued to the agency under the Troubled Asset Relief Program. The modified Dutch auction began on Monday and ended Thursday.
A total of 14,738 shares were priced at $384.88 per share, for total proceeds of $5.67 million.
The Treasury will receive all proceeds.
Village Bank is based in Midlothian, Va.
| Issuer: | Village Bank and Trust Financial Corp.
|
| Securities: | Series A fixed-rate cumulative preferred stock
|
| Amount: | $14.74 million, or 14,738 shares
|
| Maturity: | Perpetual
|
| Price: | $384.88 per share
|
| Par: | $1,000
|
| Pricing date: | Nov. 7
|
| Settlement date: | Nov. 19
|
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