Regions Financial Corporation Repurchases Warrant from U.S. Treasury
Regions Financial Corp. (NYSE: RF) announced today that it completed the repurchase of the warrant issued to the United States Department of the Treasury as part of the TARP Capital Purchase Program. The warrant provided the right to purchase 48,253,677 shares of Regions common stock at $10.88 per share. Regions and the U.S. Treasury agreed upon a repurchase price of $45 million for the warrant.
“This is a prudent and appropriate investment that will limit future shareholder dilution,” said President and Chief Executive Officer Grayson Hall. “We remain focused on building stronger customer relationships that are based on a foundation of trust, integrity and a genuine desire to help them become more successful financially.”
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.