Business News • MarketWire • New Hampshire Thrift Bancshares, Inc. Announces Partial Redemption of SBLF Preferred Shares |
New Hampshire Thrift Bancshares, Inc. Announces Partial Redemption of SBLF Preferred Shares |
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New Hampshire Thrift Bancshares, Inc. Announces Partial Redemption of SBLF Preferred Shares
NEWPORT, NH--(Marketwired - Dec 29, 2014) - New Hampshire Thrift Bancshares, Inc. (NASDAQ: NHTB), the holding company for Lake Sunapee Bank, fsb (the "Bank"), today announced that it has redeemed $15.0 million of its outstanding preferred securities issued under the U.S. Treasury's Small Business Lending Fund ("SBLF") program. The redemption was funded with the proceeds of a $17.0 million private placement of subordinated notes, which the Company completed in October 2014. The Company continues to have $8.0 million of preferred securities outstanding under the SBLF program, which it anticipates redeeming on or before first quarter 2016 when the dividend on such securities is scheduled to increase from 1% to 9%.
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