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NewBridge Bancorp (NBBC) in Greensboro, N.C., has issued nearly $16 million in subordinated debt to redeem all the preferred stock it issued under the Troubled Asset Relief Program.
March 17
NewBridge Bancorp (NBBC) in Greensboro, N.C., has completed its redemption of preferred stock tied to the Troubled Asset Relief Program.
The $2 billion-asset company said in a press release Monday that it had redeemed $15 million in preferred stock. NewBridge also paid $172,500 in accrued and unpaid dividends.
NewBridge
Separately, the company said Tuesday that it had completed its acquisition of CapStone Bank in Raleigh, N.C. NewBridge said it expects to integrate the bank later this month.