(The following press release from the U.S. Treasury Department was
received by e-mail. The sender verified the statement.)
TREASURY DEPARTMENT ANNOUNCES AUCTIONS FOR PREFERRED STOCK AND SUBORDINATED
DEBT POSITIONS OF SEVEN FINANCIAL INSTITUTIONS
WASHINGTON -- The U.S. Department of the Treasury announced today that it is
commencing auctions for all of its Troubled Asset Relief Program's Capital
Purchase Program preferred stock and subordinated debt positions (the "CPP
Securities") in the following seven institutions:
* The Baraboo Bancorporation, Inc. (Baraboo, WI);
* Central Community Corporation (Temple, TX);
* Community West Bancshares (Goleta, CA);
* First Advantage Bancshares, Inc. (Coon Rapids, MN);
* Manhattan Bancshares, Inc. (Manhattan, IL);
* Presidio Bank (San Francisco, CA); and
* Security Bancshares of Pulaski County, Inc. (Saint Robert, MO).
The offerings are expected to price through a modified Dutch auction. The
auctions will commence at 9:00 a.m., New York City time, on November 30, 2012,
and will close at 6:00 p.m., New York City time, on December 3, 2012 (the
"submission deadline"). During the auction period, potential bidders for the
CPP Securities will be able to place bids on the offered CPP Securities (in
increments of whole shares or per $1,000 aggregate principal amount, as
applicable) at any price per share or per $1,000 aggregate principal amount, as
applicable, and in increments of $0.01 at or above the minimum prices set forth
in the applicable bidder letter agreement provided to the potential bidders.
Investors may bid on individual or multiple CPP Securities.
The auction procedures are described in full in the applicable bidder letter
agreement. The CPP Securities will be offered only to (1) domestic "qualified
institutional buyers" as defined in Rule 144A under the Act, (2) certain
domestic institutional "accredited investors" as defined in Rule 501(a) under
the Act that have total assets of not less than $25,000,000 and (3) in certain
cases, certain directors and executive officers of the issuers of the CPP
Securities. The CPP Securities that will be sold in the auction may not be
offered or sold absent registration under, or an applicable exemption from,
applicable securities law. This press release does not constitute an offer to
sell or the solicitation of an offer to buy the CPP Securities, and shall not
constitute an offer, solicitation or sale in any jurisdiction in which, or to
any persons to whom, such offering, solicitation or sale would be unlawful.
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