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U.S. Treasury to Auction Preferred Stock in 11 Firms Today

Oct. 22 (Bloomberg) -- The U.S. Treasury Department said it would auction preferred stock positions in 11 financial firms acquired under the Troubled Asset Relief Program.

The offerings of TARP Capital Purchase Program securities will price through modified Dutch auctions starting today at 9 a.m. New York time through the submission deadline at 6:30 p.m. tomorrow, the Treasury said in a statement today.

The firms are: Blue Ridge Bancshares Inc., First Gothenburg Bancshares Inc., Blackhawk Bancorp Inc., Germantown Capital Corp., CenterBank, Oak Ridge Financial Services Inc., Congaree Bancshares Inc., Metro City Bank, Peoples Bancshares of TN Inc., Little Bank Inc. and HomeTown Bankshares Corp.

To contact the reporter on this story: Jeff Kearns in Washington at jkearns3@bloomberg.net

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

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