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VantageSouth Bancshares (VSB) in Raleigh, N.C., has sold $38.1 million in subordinated debt.
August 14 -
Two banks that are majority-owned by Piedmont Community Bank Holdings in Raleigh, N.C., have agreed to merge.
August 13 -
Banks that still hold Tarp funds face the prospect of dividend rates rising to 9% from 5% at a time when many of those institutions are still struggling.
June 11
VantageSouth Bancshares (VSB) in Raleigh, N.C., plans to sell up to $50 million of preferred stock to leave the Troubled Asset Relief Program.
The $1.7 billion-asset company plans to sell the shares through a public offering, it disclosed in a
VantageSouth plans to use most of the proceeds to repay the Treasury Department $42.8 million for the outstanding preferred stock it issued through Tarp and $1.5 million for a warrant to buy about 1.3 million shares of the company's common stock, the filing said.
Earlier this month, VantageSouth
Banks have been