NewBridge Bancorp Reports on Treasury Auction of TARP Shares
GREENSBORO, N.C. -- May 2, 2013
NewBridge Bancorp (NASDAQ: NBBC) today announced that the U.S. Department of
the Treasury has completed the sale of all of the preferred shares previously
issued by the Company in 2008, as part of the Company’s participation in the
Troubled Asset Relief Program.
The Company’s preferred shares were sold through a modified Dutch auction at a
price of $980.50 per share, or 98.05% of the $1,000.00 per share liquidation
Pressley A. Ridgill, president and chief executive officer of NewBridge
Bancorp, commented: “We are delighted with the public statement the auction
price makes. With many of these auctions having occurred at significant
discounts, we believe the pricing of our preferred shares indicates that
NewBridge Bancorp is held in high regard among investors.”
About NewBridge Bancorp
NewBridge Bancorp is the bank holding company for NewBridge Bank, a full
service, state-chartered community bank headquartered in Greensboro, North
Carolina. The stock of NewBridge Bancorp trades on the NASDAQ Global Select
Market under the symbol “NBBC”.
NewBridge Bank is the largest community bank in the 12-county Piedmont Triad
Region of North Carolina and one of the largest community banks in the state.
NewBridge Bank serves small to midsize businesses, professionals and consumers
with a comprehensive array of financial services, including retail and
commercial banking, private banking, wealth management and mortgage banking.
NewBridge Bank has assets of approximately $1.7 billion with 37 locations
throughout North Carolina.
Ramsey Hamadi, 336-369-0900
SEVP and Chief Financial Officer
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