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U.S. Treasury Announces Auction of Stock in TARP Banks

June 11 (Bloomberg) -- The U.S. Treasury Department announced the beginning of public offerings to sell preferred stock from seven banks in the Troubled Asset Relief Program.

The Treasury said in a statement it would conduct auctions on Ameris Bancorp of Moultrie, Georgia; Farmers Capital Bank Corp. of Frankfort, Kentucky; First Capital Bancorp Inc. of Glen Allen, Virginia; First Defiance Financial Corp. of Defiance, Ohio; LNB Bancorp Inc. of Lorain, Ohio; Taylor Capital Group, Inc. of Rosemont, Illinois; and United Bancorp Inc. of Ann Arbor, Michigan.

The stock offerings were to begin today at 8:30 a.m. and close on June 13, the Treasury said.

To contact the reporters on this story: Cheyenne Hopkins at Chopkins19@bloomberg.net

To contact the editor responsible for this story: Christopher Wellisz at cwellisz@bloomberg.net

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