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Treasury auctions off preferred stock of six institutions

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The U.S. Department of the Treasury announced its intention to sell several preferred stock and subordinated debt Capital Purchase Program investments as part of the ongoing effort to wind down and recover its remaining CPP investments under the Troubled Asset Relief Program. 

Six institutions will be featured in the auction for all of its preferred stock and subordinated debt positions including FC Holdings (FCH), Flagstar Bancorp (FBC) and National Bancshares (NBOH)

The auctions will begin around Feb. 6 to domestic qualified institutional buyers and certain domestic institutional accredited investors. 

To date, Treasury has recovered nearly $268 billion from TARP’s bank programs through repayments, dividends, interest, and other income – compared to the $245 billion initially invested. 

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