logo
Share SHARE
FONT-SIZE Plus   Neg

Mid Penn Bancorp Repurchases Entire $10 Mln Of Preferred Stock - Quick Facts

Mid Penn Bancorp Inc. (MPB) announced that it has repurchased and redeemed all of its Series A Preferred Stock that was issued to the U.S. Treasury under the TARP Capital Purchase Program.

Mid Penn said it repurchased the preferred stock for a price equal to the aggregate liquidation amount of $10 million, plus accrued but unpaid dividends of $59,722.22.

The redemption will eliminate approximately $500,000 in annual preferred dividends Mid Penn has paid on the preferred stock since its issuance.

In conjunction with Mid Penn's participation in TARP, in 2008 it issued to the U.S. Treasury a warrant to purchase up to 73,099 shares of common stock. Currently, Mid Penn intends to repurchase this warrant from the U.S. Treasury.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Netflix Inc. and movie studio Disney are finally taking their deal that was announced in 2012 to the next level. The online movie rental service will become the exclusive U.S. pay-TV home of the latest films from Disney, Marvel, Lucasfilm and Pixar. Abercrombie & Fitch Co. (ANF) reported a GAAP net loss attributable to company of $39.6 million for the first quarter ended April 30, 2016 compared to a loss of $63.2 million, last year. Excluding certain items last year, net loss attributable to Abercrombie & Fitch Co. increased $2.4 million. Net... Dollar General Corp. (DG) reported first-quarter net income of $295 million, or $1.03 per share compared to $253 million, or $0.84 per share, a year ago. On average, 25 analysts polled by Thomson Reuters expected the company to report profit per share of $0.95 for the quarter. Analysts' estimates typically...
comments powered by Disqus
Follow RTT