This Week
  • Heritage Packaging in Victor has a reputation for solving problems for customers.

  • Medical intervention is critical for patients suffering from congestive heart failure.

  • Sydor Instruments has acquired a company that will double the Chili firm's sales.

  • Christopher Liucci, G&W's top local executive, thrives on challenge.

  • Anne Gabel, 27, owns MJ Gabel Diamond and Jewelry Buyers.

  • The world's best women golfers will pay a final visit to Rochester.

M&T preferred stock sold by Treasury Department

Rochester Business Journal
August 21, 2012

M&T Bank Corp.’s preferred stock sold to the U.S. Treasury Department in the wake of the 2008 fiscal crisis was auctioned to investors fully priced at $1,000 a share.
 
The 381,500 shares yielded $381.8 million in total proceeds, including dividends, the Buffalo-based bank reported in a filing Monday with the U.S. Securities and Exchange Commission.

The auction included 250,000 Series A and 151,500 Series B preferred shares, the filing states.

The Treasury bought the shares four years ago as part of the Troubled Asset Relief Program’s Capital Purchase Program. Banks used the Treasury capital to strengthen themselves or to increase their loan capacity in response to the recession.

(c) 2012 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email service@rbj.net.


What You're Saying 

There are no comments yet. Be the first to add yours!

Post Your Own Comment

 
Username:
Password:

Not registered? Sign up now!
 

To Do   Text Size
Post CommentPost A Comment eMail Size1
View CommentsView All Comments PrintPrint Size2
ReprintsReprints Size3
  • E-mailed
  • Commented
  • Viewed
RBJ   Google