Treasury Opens First Auction Of Banks' TARP-Acquired Stock

Law360, New York (March 26, 2012, 6:08 PM EDT) -- The U.S. Treasury Department on Monday announced the start of secondary public offerings for six financial institutions' preferred stock, the first auction of its kind to help recover investments made under the Troubled Asset Relief Program.

Prospective investors can bid on shares in Banner Corp. of Walla Walla, Wash.; First Financial Holdings Inc. of Charleston, S.C.; MainSource Financial Group Inc. of Greensburg, Ind.; Seacoast Banking Corp. of Florida of Stuart, Fla.; Wilshire Bancorp Inc. of Los Angeles; and WSFS Financial Corp. of Wilmington, Del. The shares...
To view the full article, register now.