North Central Bancshares pays back TARP
North Central Bancshares Inc., holding company for First Federal Savings Bank of Iowa, announced that it has completed the repurchase warrant to purchase the company’s common stock held by the U.S. Department of the Treasury as part of the Troubled Asset Relief Program (TARP).
The TARP warrant entitled the Treasury to purchase 99,157 shares of the company’s common stock at an exercise price of $15.43 per share. North Central Bancshares paid $600,000 to the Treasury to repurchase the warrant.
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