Peapack-Gladstone Financial Corporation Receives Approval From U.S. Treasury to Redeem a Portion of the Preferred Stock
Peapack-Gladstone Financial Corporation (NASDAQ: PGC) announced today that it has received approval from the U.S. Treasury to redeem an additional 25% of the preferred shares originally issued under the Treasury's Capital Purchase Program.
The Corporation expects to repay approximately $7.2 million to the Treasury (including accrued and unpaid dividends of approximately $15 thousand) on March 2, 2011. The Corporation's redemption of the shares is not subject to additional conditions or stipulations from the Treasury.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Posted in: News